According to Signature Bank's latest earnings report, the signature bank witnessed a deposit increase of about $8 billion in the second quarter of the year, however, out of this amount, the company digital asset division claimed a record-breaking $1 billion.
The bank's increase in deposit growth was linked to a growth in all business sections of the bank, including Signet, a blockchain payment platform of the firm. As a result of the Investment growth, several financial institutions and analysts have begun to study signature as they realize the digital asset industry is a valuable source of reduced cost and no interest-bearing deposits for crypto-friendly banks.
