05.16.25

Fifth Third Plans More Crypto After 5 Years Studying Assets

by: Yizhu Wang

After about five years of studying crypto assets and waiting for clearer regulation, Fifth Third Chief Strategy Officer Ben Hoffman said the lender is ready to move forward. The firm is considering ways it can do more crypto business after building a small portfolio of customers which use its deposit accounts and payments capabilities for operations like sending payroll and receiving revenue, Hoffman said. Fifth Third is also exploring using stablecoins to facilitate cross-border transactions and connecting with other payments rails that allow consumers to pay for purchases with crypto and trade digital assets.

Read the full article on Bloomberg