- UK-based digital bank Starling suspended all payments to crypto exchanges.
- A spokesperson for the bank said that the measure is temporary.
Goldman Sachs-backed UK Digital Bank Starling announced it had suspended all payments to crypto exchanges.
Starling Bank is a digital challenger bank based in the UK. Besides, it centers on current and business account products. Headquartered in London, Starling Bank is an authorized and regulated bank. Also, it is backed by Goldman Sachs Group, Inc., a global financial institution.
According to the firm, the reason for the suspension is nothing else but crypto-related financial crimes. A spokesperson for the bank said that the measure is temporary. And it is intended to ensure customer protection.
UK-based digital bank Starling, through the spokesperson, said,
“This is not just an issue for Starling, but for all banks. We apologize for the inconvenience that this has caused for some customers; we will be reversing this measure as we roll out additional checks specifically for payments to crypto exchanges.”
The bank stressed that financial crimes are affecting all banks. In addition, the firm said that it would roll out extra checks to ensure customer protection.
The new tokens they’ve added are Cardano, Uniswap, Synthetix, Numeraire, Yearn Finance, Uma, Numeraire, Bancor, Filecoin, Loopring, Orchid, and The Graph. In light of the rising interest in crypto in 2021, these tokens have lately grown very popular.