A new report from Blockchain research firm Blockdata shows that more than half of the world’s largest banks have access to crypto and blockchain companies.
Of the 100 largest banks ‘ assets under management (AUM), 55 invest in crypto or blockchain-related companies directly or through their affiliates, the company said.
Blockdata also lists the most active banks by number of investments in blockchain companies.
The British universal bank and Barclays Capital Investments in blockchain companies list at the top of 19, then the U.S. investment bank Citigroup investment, nine, eight, global investment bank Goldman Sachs, the international investment bank JPMorgan Chase Financial Services and seven nights and six French Banking Group BNP Paribas.
The company says investment opportunities in its crypto depository attract about a quarter of the 100 largest banks.
“The most notable example of banks investing is the storage of cryptocurrencies.
While many have been decidedly vocal about how bad bitcoin is, many cannot ignore potential revenue streams and the importance of having a strong strategic position in the crypto economy.
Based on our findings, 23 of the 100 largest banks with assets under management develop storage solutions or invest in the companies they provide.”
Blockdata also reports that three major events have convinced many leading banks to offer crypto-related services to customers.
“[1] seeing cryptocurrency exchanges with a small proportion of their employees become significantly more profitable or valuable than many banks. That began in early 2018, when Binance, the leading stock exchange at the time, made $ 54 million more profit than Deutsche Bank, with only 200 employees opposed to 100,000. More recently, Coinbase’s rating has been higher than Goldman Sachs, which has just 4% of its employees.
[2] there are many requests from customers to provide bitcoin solutions.
[3] changing the regulatory environment
