According to ChainCatcher, citing Bloomberg, Fifth Third Bancorp, headquartered in Nashville, Tennessee, began establishing relationships with cryptocurrency companies about five years ago but had not made significant investments until the regulatory environment became clearer. According to the bank's strategy head, the timing is now right.
Ben Hoffman, Chief Strategy Officer of Fifth Third Bank, stated that after building a small customer base using the bank's deposit accounts and payment capabilities, the bank is considering how to further expand its crypto business. These customers use the bank's services to handle payroll, income reception, and other operational matters.
It is reported that Fifth Third Bank traces its origins to the Bank of the Ohio Valley, founded in 1858 in Cincinnati, Ohio. In 1871, the Bank of the Ohio Valley was acquired by the Third National Bank. In the early 20th century, the Third National Bank merged with the Fifth National Bank, and the merged bank was renamed Fifth Third Bank.
