Key Insights Institutions' substantial holdings in NatWest Group implies that they have significant influence over the...
NatWest, one of the UK’s largest consumer banks, announced restrictions on consumers sending money to cryptocurrency exchanges to “help protect consumers losing life changing sums of money”. Paysafe, an online payments provider, also said it would wind down services to UK customers of Binance, the world’s largest crypto exchange. The moves represent a further fraying of the connections between crypto and regulated institutions following the demise of US trio Silicon Valley Bank, Silvergate Capital and Signature.
Customers will be limited to payments of 1,000 pounds ($1,218) per day and 5,000 pounds over a 30-day period.