New York-based Signature Bank added $6.14 billion in non-interest bearing deposits in the second quarter in a sign of increased growth from digital currency customers, the company said in a statement.
- The figure compares with growth of $3.77 billion in the first quarter.
- Analysts tend to monitor non-interest bearing deposit growth as a proxy for deposits from digital currency customers because cryptocurrency firms are often a source of low-cost deposits.
- Signature doesn’t break out its deposits from digital currency customers.
- Non-interest bearing deposits rose to $28.7 billion.
Source: Coindesk
