According to research by CoinGecko, two third of the world’s largest banks are crypto-friendly. The 30 largest global banks by Assets Under Management (AUM) support crypto trading through regulated exchanges.
The report added, approximately 74% of the top 50 banks support crypto globally.
Crypto-Friendly Banks
It is no surprise that the top four non-crypto-friendly banks are Chinese. They manage $19.87 trillion worth of assets which is over 20% of the total.
Cryptocurrency trading and investing are still outlawed on the mainland, with Beijing pushing its programmable CBDC (central bank digital currency).
However, China could be welcoming crypto with Hong Kong opening up and inviting large exchanges like Coinbase to be part of the city.
In addition, it has allegedly been stated that the subsidiaries of some of the biggest Chinese banking institutions have begun to either approach or offer their services to Hong Kong-based crypto companies.
The report noted that the top 50 biggest banks in the world managed a combined $89.37 trillion worth of assets in 2023. The United States and China dominate this list, with 19 banks in the top 50 by AUM.
The report blamed the slow adoption of blockchain and crypto by big banks on regulations, volatility, and last year’s meltdown.
- Published By Team Hongkong Journalist
