Nearly 40% of Banks Will Offer Crypto Services Within 3 Years, New Survey Says

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On Monday, American Banker – a niche publication for top banking executives – released its banking forecast for 2022 based on the results of a survey of 175 senior executives, including senior, regional and divisional executives from global financial companies and community. American Banker focuses on a range of financial and banking topics relating to innovation, technology and regulation in this industry.

Main cryptographic findings from banking research

According to the report, cryptocurrencies will play a bigger role in the traditional banking industry next year, although only 2 in 10 financial advisers are currently advising their clients on crypto holdings. Other crypto highlights from the 22-page report include:

  • Almost 40% of those surveyed said they were likely / somewhat likely to offer crypto services to retail customers next year.
  • About 10% currently manage Bitcoin or other digital currencies within their accounts receivable.
  • On average, respondents said that 4% of their consumer customers currently own some type of crypto.
  • Sixty percent of survey participants said they expect their consumer customers’ cryptocurrency ownership to increase in 2022.
  • Only 2% of industry executives who responded to the survey said their institutions already offer cryptocurrency transactions, but others are preparing to take the plunge.

As U.S. lawmakers and regulators tackle crypto, the investigation report further found that about 66% of executives surveyed said more political work could boost competition in products such as coins. stable. “We expect agencies to provide more clarity on how to manage the risks associated with digital assets, including crypto assets, in 2022, noting that in-flight legislative efforts can dramatically change the regulatory landscape,” the researchers said. in the report.

Survey sample and methodology

Data for the American Banker report was collected from 175 executives and qualified employees of banks and fintechs of various sizes who responded to an online survey. Just under half of those surveyed are senior managers and senior managers of business units. Some 42% are division and service heads, directors and senior managers, senior executives and managers. About 1 in 5 people, or 21%, work in a global or national bank. The same percentage works in community banks. Almost as many, or 19%, work in regional banks. Some 16% work in credit unions and almost one in four work in a fintech company.

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Tor Constantino owns Bitcoin.

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