Customers Bank ramping up cryptocurrency services

Sam Sidhu, president and CEO of Customers Bank (NYSE:CUBI), said Wednesday that the regional bank is ramping up cryptocurrency services in order to provide financial infrastructure to "underserved market participants" Speaking to CNBC, Sidhu reported that the company will focus on commercial customers, rather than retail clients. He said this would include cryptocurrency markets, as well as traditional businesses like construction and real estate. The Customers Bank (CUBI) CEO asserted that these clients primarily need an "on- and off-ramp" for their crypto holdings, a way to transfer those assets into dollars as needed for their businesses. He noted that the firm has a strategy centered on technological innovation, which brought it to the crypto space before a lot of its larger competitors. "We are a tech-forward bank. We've started fintechs and challenger banks within our company," he said. "We are oriented like a technology company as opposed to the way