Credo Bank Explores Crypto-Only Banking Services

The Georgian bank Credo recently asked its customers to complete a survey about crypto-related banking services.

Credo is just one small bank in a small country, and this wouldn’t have caught my attention if it weren’t for the content of the survey.

The questions in the survey suggest that the bank is exploring interest in these services:

• Crypto storage
• Crypto deposits (interest-bearing)
• Crypto loans
• Loans backed by crypto
• Crypto payments
• Crypto transfers
• Crypto trading

What surprised me most is that there are no questions on exchanging crypto for fiat. Usually, that's one of the first services that comes to mind when thinking about banks and crypto.

It seems that Credo envisions the crypto sector as a self-contained ecosystem, separate from traditional fiat services. And really, why go back to fiat if crypto can handle both payments and transfers?

I also believe that crypto is a self-sufficient financial system. On rabbit.io, you can swap any cryptocurrency for another without needing to cash out into fiat.