Financial institutions were initially skeptical about cryptocurrencies, but many have now invested in them.
Thousands of top banks globally have started investing in cryptocurrencies to provide better financial services.
Standard Chartered has invested in blockchain network Ripple and created a cryptocurrency custodian.
Wells Fargo plans to introduce cryptocurrency funds and establish a regular fund for extra wealth for clients.
JP Morgan focuses on developing digital blockchain assets, such as JPM coin and the Link interbank payment network.
Barclays recognizes Bitcoin's high potential and benefits from dispersion and extreme volatility.
UBS develops private stablecoins and utility tokens for cross-border transactions, aiming to provide a verified and legal means to invest in the crypto asset class.
BNY Mellon's Fireblock platform enables financial institutions to issue, move, and store cryptocurrencies.
Morgan Stanley was the first US bank to offer its wealth management clients access to Bitcoin assets.
Goldman Sachs reconsidered its stance on crypto, exploring the potential of digital currencies as an institutional asset class.
Citibank invested in SETL, and its ledger technology is used to move cash and other assets.
BNP Paribas owns a crypto startup, Curv, and is experimenting with the transfer of security tokens, moving towards providing custodial services for digital assets.
So, where is Credit Suisse? 🤷♀️ 🥴
Source: https://www.analyticsinsight.net/10-banks-that-have-invested-in-cryptocurrencies-and-blockchain/
#CreditSuisse #Fed #BTC #KeepBuilding #KeepPosting