Post by Joey Garcia

'There is nothing more unequal than the equal treatment of unequal people.' Treating every ‘bank’ in the same way is exactly that mistake. According to the UK Cryptoasset Business Council (UKCBC) recent report, 40% of transactions to crypto exchanges are blocked or delayed by UK banks — and 100% of surveyed exchanges say banks provide no explanation when payments are restricted. 70% view the UK banking environment as increasingly hostile. But here's the part that often gets missed: many of those blocked transactions aren't customers moving money into riskier territory. They're customers trying to move out of it — from exchanges and stablecoin wallets into a regulated bank account. At Xapo Bank, that's exactly what we've built. Stablecoins like USDC and USDT come in as payment rails. USDC/USDT converts 1:1 (or market rate) into USD. That USD sits in a regulated bank account. The customer moves from the virtual-asset risk layer into the banking layer — not the other way around. There could not be a more integrated bank to the ecosystem. The problem isn't that banks ask questions about crypto. They should. The problem is blanket restriction applied without any distinction between a speculative offshore exchange and a regulated, Bitcoin-native bank that has held BTC securely since 2013. All platforms that operate in the space are neither regulated in the same way, conduct the same activities, or have the same business objectives. Should they all be treated or categorised by Banks in the same way? Better risk infrastructure — not blanket exclusion — is the answer. I've written about how we have done this, and how important it is to be able to address the right issues to solve the right problems. Anju Patwardhan, Joshua Ashley Klayman Kuzar, Diego Gutierrez Zaldivar, Jannah Patchay, Aldona Żukowska-Caramés, Dante A. Disparte, Dary McGovern, Matthew McPhee, Borja Martel Seward, Conner Brown, Dr Lisa Cameron, Prof. Dr Naseem Naqvi MBE FBBA, Lord Kulveer Ranger https://lnkd.in/ew2zXQ3R