Suppose you want to check the availability of something. In that case, you don’t have to conduct a big enough survey, simply assess the top management if it is a business and the top players if it is a game to be able to understand its overall worth.
The same is true for the commonness of the digital assets among top banks around the world; if their everydayness is to be determined, then checking with the top 100 banks of the world is going to do the trick for you. And that is precisely what researchers did; they wanted to find the adoption rate of the crypto assets among banks, so they checked in with the world’s largest 100 and were astounded to find that only 55% were using cryptocurrencies or had access to them.
World’s Largest Banks Support the Idea of Cryptocurrency
There was this consistent trend that most of these large banks were getting involved with cryptocurrencies, NFTs, and decentralized technology in the mere sense of investing in them and developing dedicated projects that are expected to work with the decentralized financial space.
The report shows that almost 55% are taking a keen interest in cryptocurrencies, and of these, 55% majority are confident with Bitcoin and the current stage it is in. This doesn’t diminish the value of other altcoins and their respective adoption rates, but on a general note, it is Bitcoin that most of these banks are after or confident working with.
Asset under management or the AUM index for these banks not only covers their involvement with a particular asset, say cryptocurrencies in this story, but measures both their direct and indirect involvement with the whole sector. This considers the very specific fragment of the crypto market that is a cryptocurrency and measures the bank’s involvement with the decentralized technologies, software, and ledgers along with NFTs.
Goldman Sachs, Citigroup, and Barclays are believed to be the biggest supporters of cryptocurrencies, while BNP Paribas and JP Morgan are major bankers in the growing markets and crypto-oriented offers.