Bankers continue to mention the topic of digital assets, and they do so quite often. For example, at the beginning of the year JPMorgan criticized Etherium. At the time, they said that other competing blockchains were outperforming Eth in various ways, such as throughput and transaction speed, so Vitalik Buterin’s project could be in trouble.

In February 2022, the Central Bank of India started talking about cryptocurrencies. Judging by the message of the head of the Central Bank, they consider coins to be a serious threat to the financial stability of the state. However, bankers still failed to consider the value of blockchain-based assets – read more about this in a separate piece.

How to invest in cryptocurrencies

Here’s how Vantage Bank’s head of human resources Eric Thompson commented on the current development.

During this “great retirement”, attracting and retaining top talent is particularly challenging. The focus on our employees and the benefits we offer help make Vantage Bank an employer of choice in the eyes of potential job applicants.


In other words, this is the banks' way of looking after their future first and foremost. At the moment, they need new employees, as their numbers are falling. Most likely, one such cryptocurrency initiative might not be enough, as some experts are leaving serious positions just to work in crypto projects.

The latest such example is Arjun Arora, who earlier this month announced his departure from Google after nine years on the job. The reason for this was to join the WOO Network team. The latter has also set up the WOO X exchange, which offers commission-free trading - and also futures trading. The only prerequisite for this is staking on WOO's 1800 platform, i.e. its native token.


Vantage Bank

Any Vantage employee will be able to take part in the new savings plan. New York Digital Investment Group (NYDIG), which offers asset management, custody and execution services for digital assets, will open savings accounts for bank employees. By doing so, it will ensure the security of digital assets during the programme.

Speaking of security. The day before, Block, formerly known as Square, claimed that its former employee had illegally gained access to its investment reports. Thus, he obtained data on the company's clients and their brokerage accounts. The company's share price slumped by as much as 7 per cent after the event.

The Block’s share price

In addition to its new savings plan, Vantage Bank is also training its employees on cryptocurrencies. Here’s another quote from Thompson on the subject, published by news outlet CryptoSlate.

As part of this savings plan, we also train employees on Bitcoin and talk about the risks and considerations to evaluate before putting your funds into a new savings plan.

Of course, opening a formal crypto savings account is a huge step towards mass acceptance of Bitcoin by bankers. At the same time, some of them are already changing their views on the crypto market, even though they were previously very negative about it.


We believe that such cryptocurrency initiatives by bankers will not necessarily attract the attention of experts, as the latter are able to invest in coins themselves. However, the reputation of digital assets would benefit from such an idea in any case. In the past, however, bankers have been particularly active in warning of the dangers of Bitcoin and other coins, given their sharp rate hikes. Now, banks are essentially offering to work for coins.