Report: World banks have invested about 0.01% of their assets in digital currencies.

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The latest report of the Basel Committee on Banking Supervision estimates the value of assets invested in digital currencies by major banks around the world at 9.4 billion euros. This may seem like a small number after a decade, but the investment of the world’s largest financial institutions in digital currencies could be promising for this fledgling industry.

To Report CryptoSlate According to data from the Basel Committee’s latest report, the world’s 19 largest financial institutions have invested 0.14% of their assets in digital currencies. Of course, this rate drops to 0.01% by including the banks in this survey that did not report their investments in digital currencies.

This report has examined the digital currency assets of 16 Group I banks and 3 Group II banks. 10 of these banks were from America, 7 banks in Europe and 2 banks from other parts of the world. Group 1 banks are a group of international banks with Tier 1 (core) capital of more than 3 billion euros; Other banks (with assets less than 3 billion euros) are classified in the banks of the second group.

Report: Banks have invested about 0.01% of their assets in digital currencies

The report also confirms the exponential growth rate of bank investments in digital currencies and reminds that it is difficult to estimate the actual proportion of money invested.

The report of the Basel Committee states:

Since the digital asset market is growing and expanding rapidly, it is difficult to determine these two issues; Whether some banks under- or over-reported their investments in digital currencies and how consistently they used this approach to classify each type of investment.

Bank investment distribution

About a third of the 9.4 billion euros of assets invested in digital currencies belong to 10 American banks. However, the distribution of investment volume among these banks is not the same.

Distribution of invested digital currencies among banks
Each segment represents the share of a bank that has reported investing in digital currencies.

More than half of the investment volume belongs to 2 banks. 4 other banks have about 40% of the investment volume and the remaining 10% belongs to 13 other banks.

Invested tokens

According to the data of the Basel Committee report, Bitcoin and Ethereum account for the largest volume of assets invested by banks. 31% of the investment portfolio of these 19 major financial institutions is made up of Bitcoin and 22% of Ethereum.

Bitcoin based financial products (or funds) are the third and fourth most invested assets with 25% and Ethereum based products with 10%. In fact, Bitcoin and products based on it make up a total of 56.1% and Ethereum and products based on it make up a total of 32.8% of the distribution of invested tokens.

Distribution of invested tokens by banks separately

The remaining 10% is also divided between other coins. Polkadat and Ripple are in third and fourth place with 2.1 and 1.9% respectively, followed by Cardano and Solana in fifth and sixth place with 1.1 and 0.9% respectively. Litecoin and Stellar are also in the seventh and eighth positions with 0.5 and 0.4%, respectively.

Also, banks have reported investing a small amount in USDC, but this is not included in the charts above.

Services provided by banks

Custody and lending, market making and custody/wallet/insurance services are the top three categories of services that banks provide in the field of digital currencies.

Report: Banks have invested about 0.01% of their assets in digital currencies

Among these three areas, custody/wallet/insurance services and their similar services account for 50.2% of the dominant activity of banks. This category includes all services related to custodial accounts, wallets and insurance for digital currencies and facilitating customer activities such as self-directed or managed transactions by a financial manager.

Settlement, outsourcing and market making services are ranked second among the services provided by banks with 45.7%. All trading activities in customer accounts, settlement of derivatives and futures, initial offerings of digital currencies (ICOs) and issuance of securities based on digital currency are also included in this category.

Finally, keeping and investing in digital currencies, lending to institutions and issuing digital currency with the support of assets in the bank’s balance sheet, which are a subset of activities related to keeping and lending, account for 4.2% of the activities of banks in the digital currency industry. have given.


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