In response to the recent bankruptcy of FTX and its affiliates, BankLine is expanding its partnerships with crypto-friendly financial institutions to ensure stable banking for its clients. By adding two additional partner banks to its portfolio, BankLine is able to provide redundancy and stability that cannot be achieved with a single bank provider.

Highlighting the conservative business model of its partner banks, BankLine emphasizes that they avoid lending to riskier sectors of the cryptocurrency industry, thus averting potential bankruptcies like the ones experienced by FTX. Moreover, each of BankLine’s partner banks is well-capitalized, FDIC-insured, and strictly adhere to federal regulations, positioning them to continue serving their customers with confidence.

In addition to its crypto-friendly partnerships, BankLine has also expanded its services to include cannabis-friendly banks. This allows crypto ATM operators to confidently operate in licensed cannabis-related businesses, supporting the growth and expansion of the crypto ATM industry into new markets.

Mark Ochab, President and CEO of BankLine, emphasizes the importance of providing secure banking partners to clients in the face of industry and bank volatility. By offering banking redundancy, BankLine ensures its clients have security and peace of mind, allowing them to focus on other aspects of their business.

BankLine is known as the leading crypto-friendly banking solution, offering a portfolio of redundant financial institutions that cater to the diverse needs of the crypto industry. With a network of crypto-friendly banks and services, BankLine mitigates the threat of bank discontinuance and provides ongoing, sustainable, and scalable banking and support services.

Each BankLine customer has a direct relationship with an FDIC-insured depository institution, ensuring that their accounts are titled in the business entity’s name and exclusive to their activities. Additionally, BankLine’s partner banks provide over-the-counter services for online crypto companies.