US banking crisis spurs crypto firms to consider offshore relocation for stability

Several US cryptocurrency companies are seeking offshore bank accounts following the collapse of three digital assets-friendly financial institutions last week. Sygnum in Switzerland, Bank Frick in Lichtenstein, and SEBA in Switzerland have reported an increase in requests to open accounts from various jurisdictions, including the US Xapo Bank in Gibraltar has also seen an uptick in demand for new accounts and is adding GBP payment services with USDC options likely starting later this week.

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