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6 February

Vast Bank, the first US bank that allowed its clients to buy, sell and hold cryptocurrencies, intends to exit the cryptocurrency sector.

The bank has also stated it will continue to provide traditional banking services and remain a sound and reliable financial institution for its customers.

Vast Bank has said it will refund any remaining cryptocurrencies from holders:

"To strategically align our operations, effective Wednesday January 31st, 2024, we will be disabling and removing the Vast Crypto Mobile Banking application from Google and Apple, which means your Vast Crypto Mobile Banking account(s), including any Digital Assets held in custody, will be liquidated and closed."

The bank entered the crypto sector back in 2019 and had previously partnered with Coinbase.

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