Majority of the world’s top banks invest in crypto and blockchain companies: report – .

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Majority of the world’s top banks invest in crypto and blockchain companies: report – .


A new report from research firm Blockdata suggests that more than half of the world’s largest banks are exposed in crypto and blockchain companies.

The company claims that of the top 100 banks in terms of assets under management (AUM), 55 of them have investments in crypto or blockchain-related businesses, either directly or through affiliates.

Blockdata also names the most active banks based on the number of investments in blockchain companies.

Topping the list is UK universal bank Barclays with investments in 19 blockchain companies, followed by US investment bank Citigroup with nine investments, global investment bank Goldman Sachs with eight, service banking financial and investment JPMorgan Chase with seven, and the French international bank. BNP Paribas group with six.

The company says investment opportunities in the crypto custody space have attracted nearly a quarter of the top 100 banks.

“The most notable example of bank investment is the conservation of crypto.

While they have made it very clear how bad Bitcoin is supposed to be, many cannot ignore the potential income streams and the importance of having a strong strategic position in the crypto economy.

Based on our findings, 23 of the top 100 banks in terms of assets under management are developing custody solutions or investing in the companies that provide them. “

Blockdata also states that three main developments have convinced many of the major banks to start providing crypto-related services to their customers.

« [1] See cryptocurrency exchanges with a fraction of their staff become significantly more profitable or valuable than many banks. It started as early as 2018, when Binance, the leading stock exchange at the time, posted $ 54 million more profit than Deutsche Bank, with just 200 versus 100,000 employees. More recently, Coinbase’s valuation was higher than Goldman Sachs, with just 4% of their employees.

[2] Countless requests from their customers to provide Bitcoin solutions.

[3] A regulatory change in 2020 that allows banks to offer crypto custody solutions. “

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