Fifth Third Plans More Crypto After Five Years Studying Assets

Fifth Third Plans More Crypto After Five Years Studying Assets

Fifth Third Bancorp. began forging relationships with crypto companies about five years ago, but held off on major investments until regulation became clearer. That moment has arrived, according to the bank’s head of strategy.

Cincinnati’s Fifth Third bank expands crypto push as US rules take shape

Ben Hoffman, Chief Strategy Officer and Head of Consumer Products at Fifth Third Bank says the company is considering expanding its cryptocurrency business. This comes after establishing a small clientele that uses deposit accounts and payment features for tasks like sending payroll and collecting money, as US regulations became clearer. According to Hoffman, the Cincinnati-based lender is also looking into using stablecoins to help with cross-b…

NEW: Fifth Third Ready To Embrace Crypto After Studying Assets For Five Years

Fifth Third Bank is expanding into cryptocurrency as clearer regulations open new doors for traditional lenders. The Cincinnati-based bank has spent years studying the space and is now ready to grow its crypto services according to chief strategy officer Ben Hoffman. The bank already supports crypto companies with basic services like deposit accounts and payments. Now it is looking at using stablecoins for cheaper faster cross-border transaction…