The American Vast Bank, which is the first in the United States to offer its clients tools for working with cryptocurrencies, has decided to leave the cryptocurrency industry.
Information about this appeared on the website of the credit institution. Due to the refusal to work with cryptocurrencies, the Vast Bank team closed the mobile application through which the bank's customers could make transactions using digital assets.
“To strategically align our operations, effective Wednesday, January 31, 2024, we will disable and remove the Vast Crypto Mobile Banking app from Google and Apple, which means your Vast Crypto Mobile Banking account(s), including any digital assets held in custody will be liquidated.” And close it.”
Extensive bank statement
The credit institution provided users with tools for working with cryptocurrencies in 2019. According to American Banker, Vast Bank may refuse to work with digital assets due to pressure from the US Office of the Comptroller of the Currency (OCC).
In September 2021, it was reported that Vast Bank became the first commercial bank to offer its customers the opportunity to conduct cryptocurrency transactions. The bank, headquartered in Tulsa, Oklahoma, announced the launch of a new cryptocurrency banking service. Vast Bank has become the first federally chartered bank in the United States to provide the ability to buy, sell, and store cryptocurrencies directly using banks.
