Digital challenger bank based in the United Kingdom Starling has suspended all payments to crypto assets exchanges, The Daily Telegraph reports on May 29.
Starling, which received a £50 million cash injection from the U.S. gaint bank Goldman Sachs in April, is currently eyeing an IPO.
On May 11, Starling CEO Anne Boden told Sifted that her bank wasn’t seeing an outpouring of demand for crypto assets:
“Some fintechs are rushing into crypto assets. That’s not the Starling way. Our approach is discovering what customers want and need.”
Concerns about crypto-related financial crime were cited as another reasons for the suspension by Starlink bank.
“This is not just an issue for Starling, but for all banks. We apologise for the inconvenience that this has caused for some customers; we will be reversing this measure as we roll out additional checks specifically for payments to crypto exchanges, “a spokesperson of Starlink says.