Survey: 29% of European payment service providers are unwilling to cooperate with cryptocurrency exchanges

ChainCatcher news, a survey conducted by the fintech company Neo on 100 European Payment Service Providers (PSPs) shows that banks perform poorly in collaborations. Due to restrictions from banking partners, 29% of PSPs are unwilling to cooperate with cryptocurrency exchanges.

The survey also found that 95% of PSPs have experienced bank accounts being closed or restricted, with 71% of these cases occurring without a clear reason provided by the banks. To address this issue, most PSPs maintain partnerships with multiple banks, but the process of finding new banking partners is lengthy, averaging 11.5 months.