As crypto-using customers around the world are discovering, their choice of transaction raises a red flag to most banks, who are anything from suspicious through to downright unfriendly towards cryptocurrencies.
There are now numerous documented stories of banks withholding or blocking crypto transactions by their customers, as well as barring purchases, and even refusing to offer formal notice to customers, who are kept in the dark as they wait for transactions to go through.
Traditional banking giants have a very long way to go towards accepting what today’s customer demands, which is instant access to their account, anytime, anywhere, via their mobile phone.
On the other hand, traditional banking users are interested as never before in cryptocurrencies. 60% of Americans have heard of Bitcoin. 8% of Americans (11% of Japanese – global leader) are currently participating in cryptocurrency and 50% of American adults are interested in trying out the new asset class in the future.
Challenger Banks’ are modern, customer-facing organizations with rapid growth patterns. They came to market just in advance of the cryptocurrency wave, and so while their technological expertise and modern marketing puts them well ahead of traditional banking, their focus on fiat currency remains a limiting factor and still have a huge task in front of them as they grow their chosen market.
Recently churches and politicians have started accepting donations in cryptocurrencies! This generates a huge demand for Cash Management with any currencies and any assets for retail clients and companies. And, huge demand for any asset in any kind of banking service as the customer wants.
B52 is founded on the principal that Any Asset can be transacted, and that this can be done seamlessly. The offer, literally for the first time ever, is that all assets can be used from the same wallet, be they crypto, fiat, or other forms of credit.