Fifth Third Bank plans to expand its cryptocurrency business

TechFlow news, May 16 — According to Bloomberg, Fifth Third Bancorp, after five years of researching digital assets, is planning to expand its cryptocurrency business. Ben Hoffman, the bank’s strategy director, said that with the regulatory environment becoming clearer, the bank is ready to increase investment in the crypto space. Currently, Fifth Third has built a small client portfolio using its deposit accounts and payment capabilities for daily operations such as payroll distribution and revenue collection.