UK commercial bank NatWest says it does not want to do business with clients and customers that deal in crypto.
Corporate clients of NatWest may soon lose their banking relationship with the United Kingdom-based lender amid recent negative cryptocurrency-related policy statements.
According to a report by The Guardian, Morten Friis, the head of the bank’s risk committee, has revealed that NatWest will refuse service to business customers that accept cryptocurrency payments.
Friis made the bank’s position known during Wednesday’s shareholder event, stating:
“We have no appetite for dealing with customers, whether taking them on as new clients or having an ongoing relationship with people, whose main business is backed by an exchange for cryptocurrencies, or otherwise transacting in cryptocurrencies as their main activity.”
Friis’s comments echo similar sentiments recently attributed to HSBC, another UK bank, that used identical statements in announcing its decision to bar customers from buying MicroStrategy stock.