Two-Thirds of World’s Biggest Banks Crypto-Friendly: Study

31. Juli 2023 Aus Von admin

• According to recent research by CoinGecko, two-thirds of the 30 biggest global banks by assets under management (AUM) support crypto trading through regulated exchanges.
• Furthermore, around 74% of the top 50 banks worldwide support crypto trading by connecting to regulated exchanges, the report added.
• It comes as no surprise whatsoever that the top four non-crypto-friendly banks are Chinese, managing $19.87 trillion worth of assets which is over 20% of the total.

Crypto-Friendly Banks

Recent research has revealed that there are more crypto-friendly banks across the globe than previously thought. According to recent research by CoinGecko, two thirds of the thirty biggest global banks by assets under management (AUM) support crypto trading through regulated exchanges. Furthermore, around seventy-four percent of the top fifty banks worldwide support crypto trading by connecting to regulated exchanges, the report added.

Non Crypto Friendly Banks

It comes as no surprise whatsoever that the top four non-crypto friendly banks are Chinese. These institutions manage $19.87 trillion worth of assets which is over twenty percent of the total market share globally. Cryptocurrency trading and investing are still outlawed on China’s mainland with Beijing pushing its own programmable central bank digital currency (CBDC).

China Warming To Crypto?

However, China could be warming to cryptocurrency with Hong Kong opening up and inviting large exchanges such as Coinbase to set up in their city. In addition, several subsidiaries of some of China’s largest banking institutions have reportedly either started offering their services related to cryptocurrencies or have expressed interest in doing so in near future.

Cryptocurrency Trading Supported By Regulated Exchanges

The research also found that while a majority of world’s leading banks don’t yet offer direct access for retail customers to cryptocurrency markets, they do provide services for clients who want to participate in them via regulated exchange platforms such as Binance and Coinbase Pro among others. This allows traders and investors access to these markets without having to go through any direct relationships with these banking institutions themselves but rather third party service providers like custodians and brokers etc .

Conclusion

Overall it appears that many major global banking institutions are increasingly becoming more open towards providing services related to cryptocurrencies given their increasing acceptance across various sectors both public and private alike. Although not all banks may be ready yet for full integration into their existing systems but it seems clear that most recognize potential this new asset class holds for wider financial systems around world and are taking steps towards embracing it at some level or other in near future .