{"id":7745,"date":"2021-08-12T12:24:56","date_gmt":"2021-08-12T11:24:56","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=7745"},"modified":"2021-08-12T12:25:00","modified_gmt":"2021-08-12T11:25:00","slug":"55-of-worlds-top-100-banks-purportedly-have-crypto-and-blockchain-exposure","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/55-of-worlds-top-100-banks-purportedly-have-crypto-and-blockchain-exposure\/","title":{"rendered":"55% of world’s top-100 banks purportedly have crypto and blockchain exposure"},"content":{"rendered":"\n
It is believed that over half of the top hundred banks in terms of assets under management are investors in key cryptocurrency and blockchain-based<\/a> startups and initiatives.<\/h5>\n\n\n\n
\"55%<\/figure>\n\n\n\n

Reports indicate that global financial behemoth\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>s are growing their involvement in the nascent crypto and blockchain industries, including through early and late-stage funding for initiatives and enterprises in the space.<\/p>\n\n\n\n

A study by Blockdata, a blockchain <\/a>market intelligence company, found that 56 of the top-100 banks in terms of assets under management (AUM) have some level of exposure to the emerging technology. <\/p>\n\n\n\n

This interest, according to reports, extends to both direct and indirect investments in cryptocurrency and decentralised ledger technology companies either by the bans themselves or through their subsidiaries\u2026.<\/p>\n\n\n\n

Barrington, Citigroup, and Goldman Sachs<\/a> are among the most active investors in crypto and blockchain companies, according to Blockdata's analysis, with JPMorgan and BNP Paribas also recognised as serial investors in the nascent field.<\/p>\n\n\n\n

KPMG research shows that these investments are part of a broader trend of considerable support for blockchain <\/a>firms, with financing figures already more than doubling those seen in 2020.<\/p>\n\n\n\n

Additionally, according to the findings, crypto custody is a big emphasis area for banks looking to enter the cryptocurrency market. <\/p>\n\n\n\n

According to the Financial Times, about a quarter of the top-100 banks by assets under management (AUM) are either developing cryptocurrency custody solutions or investing in firms that provide custodial services for digital assets.<\/p>\n\n\n\n

Indeed, as previously reported by Cointelegraph, a number of institutions in the United States, Asia, and Europe are developing crypto custody platforms as part of their initial push into the cryptocurrency market..<\/p>\n\n\n\n

According to Blockdata, the increased crypto and blockchain involvement among banks can be ascribed to three primary factors: the exploding earnings of cryptocurrency startups, legislative developments, and an increasing demand among bank clients for exposure to digital assets.<\/p>\n\n\n\n

Earlier this year, NYDIG president Yan Zhao remarked that the large revenues generated by cryptocurrency trading companies such as Coinbase were prompting banks to re-evaluate their original aversion to participating in the cryptocurrency space.<\/p>\n\n\n\n

Despite the fact that the teams working for these major cryptocurrency organisations are substantially smaller, they have a massive revenue potential.<\/p>\n\n\n\n

To put it another way, Coinbase is valued at $58.09 billion, which is less than half the value of Goldman Sachs<\/a>, the world's 13th largest bank despite the fact that it employs only approximately 4% of the latter's total staff.<\/p>\n","protected":false},"excerpt":{"rendered":"

It is believed that over half of the top hundred banks in terms of assets under management are investors in key cryptocurrency and blockchain-based startups and initiatives. Reports indicate that global financial behemoth s are growing their involvement in the nascent crypto and blockchain industries, including through early and late-stage funding for initiatives and enterprises […]<\/p>\n","protected":false},"author":13,"featured_media":7758,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[321,202,132],"class_list":["post-7745","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-banks","tag-blockchain","tag-crypto"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2021\/08\/image-134.png","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/7745","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=7745"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/7745\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/7758"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=7745"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=7745"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=7745"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}