American community bank The Provident Bank has begun offering deposit services to digital currency-related customers, according to an announcement published on July 9.
The Provident Bank now offers deposit and other banking services to cryptocurrency issuers, exchangers and investors. The bank deploys Bitfury’s blockchain analytics tool Crystal that maps cryptocurrency transactions and related entities to reveal suspicious funds and parties. Crystal will purportedly ensure that the bank’s new clients are compliant with the anti-money laundering and Know Your Customer procedures.