Company News
iPeakoin runs in a steady and secure way for business cash managment
Just two days after the collapse of Silicon Valley bank, US federal regulators announced on Sunday (March 13) that Signature bank had been closed. The sudden banks run and capital crisis has left its high-powered customers and investors in limbo.
According to the US Treasury Department, all depositors of Signature Bank will be made whole and no losses will be borne by the taxpayer. While, those who remained with SVB face an uncertain timeline for retrieving their money. What the depositors of the two banks need to do is to prepare another bank account to transfer money into, and try to wire funds to the new account as soon as possible.
iPeakoin, a licensed financial institution which is free from legacy banks, can provide easy access to open a bank account online within one day. We support opening multi-currency accounts online: USD, EUR, and HKD and the business is available in over 180 countries/regions and 40 currencies, helping companies to transfer the deposit out of the banks and minimizing the loss of funds.
During the last weeks and especially the last 48 hours, we have noticed more and more interest from potential customers to start a banking relationship with iPeakoin. They appreciate iPeakoin’s risk focused mindset and client centric approach to digital asset banking. We are increasing our onboarding and compliance resources to meet the increased demand.
We also understand that you may have a stronger sense of risk control when making financial choices, so we want to provide up-to-date guidance based on what you may be concerned about.
iPeakoin do not have a bank-to-bank relationship with Silicon Valley Bank (SVB), and our relationship with Signature Bank ended recently. The collapse of SVB and Signature has no influence on our business, and we are well-capitalized and profitable currently. With MSO (Money Service Operator) from the USA, MSB (Money Service Business) from Hongkong, and Crypto Exchange & Wallet License from the Republic of Lithuania, iPeakoin upholds the highest standards of compliance. We are audited regularly, apply strict risk management, and have strong governance. At all times when it comes to credit, counterparty, cash flow planning, asset-liability matching, and coin selection, iPeakoin applies appropriate risk management,
iPeakoin working with several partner banks and a number of regulated financial institutions to offer banking services to our customers. We do not hold customer funds directly on our own balance sheet, and all customer funds are securely held with regulated, FDIC-insured partner banks. Thus, each depositor is able to be insured a deposit up to $250K from FDIC. Additionally, our partner banks are in sound financial condition. They have well-diversified deposits outside of tech, which reduces volatility and helps ensure stability for all of their customers. They have not seen any significant deposit outflows at this time.
With an outstanding business model, financial capability, capital strength, profitability and liquidity, iPeakoin will continue to provide you with qualified financial services.
If you have any needs, please feel free to contact us at support@ipeakoin.com.
For details on how to open an account, visit ipeakoin.com/global-account.