As Bitcoin (BTC) adoption continues to grow, the number of major banks joining this trend has also increased significantly.
Bitcoin financial services firm River stated in its latest report that many major banks in the US are preparing to offer, or already offer, Bitcoin-related services.
River reported that approximately 60% of the 25 largest banks in the US have announced that they already offer or plan to offer Bitcoin trading or custody services.
In line with this report, Brian Armstrong, CEO of Coinbase, the largest cryptocurrency exchange in the US, also stated in Davos that his most important impression was that bank CEOs were beginning to adopt a more cryptocurrency-friendly approach.
Armstrong stated that in his meetings with unnamed bank CEOs, most were actually very receptive to cryptocurrencies and saw them as an opportunity, while a small number were not yet at that point.
The Coinbase CEO stated, “Some are still cautious, but most see cryptocurrencies as a significant business opportunity and a matter of survival. The CEO of one of the world’s top 10 banks considers cryptocurrencies a top priority and says it’s linked to the bank’s survival.”
River’s research noted that major US banks such as JPMorgan Chase, Wells Fargo, and Citigroup are reviewing and making progress in offering and expanding Bitcoin and cryptocurrency services.
*This is not investment advice.