Brex

On March 16th, it was reported that the number of customers and deposits of several American digital banks has surged after the collapse of Silicon Valley banks, including the San Francisco based digital bank Mercury, which has increased deposits by over $2 billion and thousands of customers in the past six days. Brex, a financial institution that provides commercial bank accounts, has added 3000 new customers and billions of dollars in new deposits in the past week (the institution declined to provide specific amounts). Brex has also provided loans to former Silicon Valley bank customers to help them pay their salaries. New York digital banks Meow and Rho have seen a surge in new customers, with “daily demand for hundreds of millions of dollars” of government bonds in the past week. Since last Thursday, financial institution Arc has applied for salary financing totaling more than $150 million for 500 startups. Forbes: The number of customers and deposits in multiple US…

According to CNBC, Brex, an American financial services and financial technology company, received billions of dollars from the Bank of Silicon Valley on Thurs…