ATB Financial just announced that it would begin supporting crypto business in their official post called Cracking Compliance: Traditional banking for unconventional business clients.
ATB promises to transform banking and notes on the official website that “We are the ATB Financial transformation team – over 500 change agents that make up the disruptive edge of ATB. Our mission is to reimagine banking, make it work for people. We start by listening. Then we innovate process, enable people and add new technology.”
Supporting unconventional business clients
ATB begins their post by saying that cryptos and the companies that create and manage them may seem to be operating in a plan that’s separate from the traditional banking sector.
But, ATB continues, this is not the case because in order to “run a business, hire staff, buy servers/equipment, rent an office, and pay utilities and taxes, every business needs at least some fiat currency.”
ATB goes on and explains that this means that crypto ventures in most cases still need to rely on business banking services from more traditional banking services providers.
Finding business banking services via traditional banks can be quite challenging for crypto-focused ventures.
ATB explains that this is the case for Canadian crypto exchanges for instance, which are looking for business banking at home.
ATB is not afraid to work with the cryptosphere
ATB says that they are not afraid to test new waters and this is why they decided to start the journey of exploring both risks and opportunities of crypto banking services.
The official blog post states in bold letters that the blockchain tech and cryptos will definitely be a part of the future and supporting businesses and fostering the whole developer community that’s around new technologies has massive potential to impact the entire business community in Alberta positively. We believe that this generally applies to the whole financial sector.
Anyway, we recommend that you read the complete post of ATB here.