December 20, 2021
by Margaret Haggerty

American Banker published its annual banking predictions based on survey results from 175 leaders and staff at banks and fintechs, including C-suite and senior business unit executives.  Regarding cryptocurrency, nearly 40% of survey participants reported that they will be “likely/somewhat likely” to offer cryptocurrency services next year.

The report found that two out of ten financial advisors currently advise clients on crypto holdings, but that advisors expect that percent to double 2022.  Additionally, only 4% of survey participants reported that their clients are currently invested in cryptocurrency, but 60% of participants expect that number to increase in 2022.

The report’s findings are representative of the greater trend of the banking industry’s participation in cryptocurrency and blockchain technology.

The full report can be found here.

 

 

About Blockchain Law Center

Blockchain technology utilizes a distributed digital ledger to record and track information, and can be leveraged to gain transparency and certainty in transactions ranging from cryptocurrency to supply chain tracking.  This blog provides information on the legal developments surrounding implementation of blockchain technology, with an initial focus on the financial services sector.