Survey Shows 55% Of 100 World’s Top Banks Have Exposure To Bitcoin And Other Crypto Assets | https://investmentchannel.net

More than half of the top 100 banks are major investors in Bitcoin, digital assets, and blockchain technology-based firms .
World ’ sulfur largest banks are reportedly growing quickly in their involvement in the swerve crypto and blockchain companies. They get involved through early and late-stage financing of businesses and projects within the industry .

Blockdata Research Report Shows Increasing Interest In Bitcoin

A blockchain marketplace news – the Blockdata researched outlined a report card. From the inquiry resultant role, 55 % among the 100 top-ranked banks by AUM are already taking interest in the cryptocurrency sector .
AUM means Assets Under Management, a measure of the commercialize measure of all the fiscal assets of a fiscal institution. This association reportedly includes the bank ’ mho indirect and lineal investment in cryptocurrency and decentralized daybook technology or their subsidiaries.

Related Reading | American Cinema Giant AMC Plans To Accept Bitcoin For Movie Tickets Blockchain market news inquiry had placed Citigroup, Barclays, and Goldman Sachs among high-ranked backers of cryptocurrencies and blockchain companies. The Blockdata inquiry besides identified BNP Paribas and JPMorgan as ceaseless investors in emerging firms .
The KPMG report states that these investments form part of the bigger drift of good second for cryptos and blockchain startups. Their support figures have already started doubling the union recorded in 2020 .
The Blockdata research besides reveals crypto detention to be the main aim for banks that join the crypto diligence. about a quarter of the largest 100 banks by AUM are developing crypto hands platforms. otherwise, they back startup propose digital assets custodial services .
several banks operating in Asia, Europe, and United States build crypto custody solutions as their preliminary thrust into cryptocurrencies.

Reason For Bank’s Exposure To Digital Assets

Blockdata, Blockchain market intelligence attributed the increasing bank ’ second blockchain and crypto participation to three major factors. They include regulative advancements, identical high profits of cryptocurrency startups, and ceaseless requests from bank customers for May ’ s digital assets .
Yan Zhao, NYDIG president, stated that democratic crypto trade platforms like Coinbase make numerous returns. This made banks want to revisit their restraint in Bitcoin and crypto participation .
Related Reading | Women From small Towns Constitute 65% of Indian Cryptocurrency Sign-Ups
however, this massive return was not affected by the significantly smaller team members working for them- the crypto companies.

Coinbase is a procure US-based platform that makes it easy to buy, sell, and memory cryptocurrencies like Ethereum and Bitcoin .
Survey Shows 55% Of 100 World’s Top Banks Have Exposure To Bitcoin And Other Crypto Assets

The Bitcoin price action gains momentum as the bulls push towards $47k | Source: BTCUSD on TradingView.com

At the clock time of write, the giant crypto trade platform Coinbas is valued at $ 58.09 billion. This value is about 50 % of the respect of Goldman Sachs, despite having precisely about 4 % of its work force. Goldman Sachs is the thirteenth biggest bank globally .

Featured image from Pixabay, and chart from TradingView.com

Leave a Comment

Your email address will not be published.