cryptonews 2025-05-29 07:37:35

Top US Banks Discuss Crypto Expansion, Initial Approach Remains Tentative: Report

Some of Wall Street’s major banks are having internal talks regarding crypto expansion, four industry sources told Reuters . However, the initial steps might be tentative. With the current pro-crypto US government and evolving regulatory landscape, large lenders are considering crypto pilot schemes, partnerships and limited crypto trading. Big Banks Hesitate to Venture Heavily into Crypto According to the four unidentified executives, banks are still hesitant to be the first to expand more into crypto. They fear falling into difficulties in case of a change in rules. Firms await to follow major banks venturing into crypto after a few test cases, they added. The pro-crypto stance is encouraging for traditional lenders, said Dario de Martino, from A&O Shearman, M&A partner who works on crypto-related issues. “But they are still approaching it with caution and viewing the changes in regulation as an opportunity to engage and not a free pass,” Martino added. Traditional banking giants JPMorgan, Bank of America, Citi and Wells Fargo are considering a consortium-backed stablecoin to compete in the crypto space. #Stablecoin #Banks https://t.co/sWFJQ8R9oD — Cryptonews.com (@cryptonews) May 23, 2025 Lenders are Likely to Enter into Crypto Custody Through Partnerships The sources further noted that some of the banks are keen on custody businesses to store and manage cryptos. Bankers and executives noted that financial institutions are keen to enter custody businesses through partnerships with existing crypto firms. The increased interest from lenders follows the rescind of controversial Staff Accounting Bulletin – SAB 121 . Former SEC Chair Gary Gensler supported the bulletin, which placed certain accounting burdens on banks that made it difficult for them to provide custody services for digital assets. The rule gained widespread criticism for asking banks that hold crypto to record them as liabilities in their balance sheets. “Traditional banks are slow to adopt crypto due to its complexity,” Gadi Chait, Xapo’s Investment Manager, told Cryptonews in an exclusive interview . “So far, outdated infrastructure, regulatory uncertainty, and internal scepticism have hindered their ability to keep pace with the surging consumer demand for crypto-enabled banking services.” According to Chait, interest from big banks is indicative of a broader trend associated with the institutional adoption of digital assets. The post Top US Banks Discuss Crypto Expansion, Initial Approach Remains Tentative: Report appeared first on Cryptonews .

Наиболее читаемые новости

AI to Transform Web3 Into ‘Knowledge Coordina...
2025-06-01
Interoperability, Privacy, and Innovation—Are...
2025-06-01
Ripple Is “Building the New Wall Street”, XRP...
2025-06-01
This Hot New Altcoin In DeFi Is Turning Heads
2025-06-01
A Solana investor says this token, which cost...
2025-06-01
Bitcoin’s ETF Launch Sparks Short Squeezes as...
2025-06-01
Best Crypto Coins to Watch This Week and Buy
2025-06-01
Missed Bitcoin at $1? Bitcoin Solaris at $5 I...
2025-06-01

Связанные новости

Прочтите Отказ от ответственности : Весь контент, представленный на нашем сайте, гиперссылки, связанные приложения, форумы, блоги, учетные записи социальных сетей и другие платформы («Сайт») предназначен только для вашей общей информации, приобретенной у сторонних источников. Мы не предоставляем никаких гарантий в отношении нашего контента, включая, но не ограничиваясь, точность и обновление. Никакая часть содержания, которое мы предоставляем, представляет собой финансовый совет, юридическую консультацию или любую другую форму совета, предназначенную для вашей конкретной опоры для любых целей. Любое использование или доверие к нашему контенту осуществляется исключительно на свой страх и риск. Вы должны провести собственное исследование, просмотреть, проанализировать и проверить наш контент, прежде чем полагаться на них. Торговля - очень рискованная деятельность, которая может привести к серьезным потерям, поэтому проконсультируйтесь с вашим финансовым консультантом, прежде чем принимать какие-либо решения. Никакое содержание на нашем Сайте не предназначено для запроса или предложения