Signature Bank’s Q3 Deposits Grow by $10B to $95.57B

Q3 net income increased to $241.4M from $138.6M during the same period last year.

AccessTimeIconOct 19, 2021 at 10:51 a.m. UTC
Updated May 11, 2023 at 7:04 p.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

Signature Bank added $10 billion in deposits in the third quarter, which included “notable contributions” from its digital assets service.

  • Deposits for the New York-based bank grew to a total of $95.57 billion, the company announced Tuesday.
  • Signature did not specifically report how much of the growth was due to digital asset deposits, but described the “notable contributions” to the increase from its digital assets banking team.
  • The contribution included its Ethereum-based digital payments platform Signet, the first such platform approved approved for use by the New York State Department of Financial Services.
  • What's the Biggest Misconception People Have About Bitcoin Mining?
    00:39
    What's the Biggest Misconception People Have About Bitcoin Mining?
  • Is Crypto at the 'Mercy' of Fed Rates and Macro Conditions Now?
    08:53
    Is Crypto at the 'Mercy' of Fed Rates and Macro Conditions Now?
  • Traders Bet on Ether's Drop; Sen. Lummis, Gillibrand Take on Stablecoin Legislation, Again
    01:47
    Traders Bet on Ether's Drop; Sen. Lummis, Gillibrand Take on Stablecoin Legislation, Again
  • Crypto Fee War Intensifies in South Korea
    01:02
    Crypto Fee War Intensifies in South Korea

  • Disclosure

    Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

    Jamie Crawley

    Jamie Crawley is a CoinDesk news reporter based in London.


    Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.



    Read more about