It looks like banks are also getting in the crypto game.
Research from Blockdata reveals that 55 out of the 100 top banks based on assets under management (AUM) have some sort of exposure to digital currency.
The banks’ involvements are said to be direct or indirect investments to crypto and decentralized ledger firms owned by the banks themselves or through their subsidiaries.
Blockdata’s research claims that Citigroup, Goldman Sachs, and Barclays are some of the most active banks dwelling in crypto and blockchain firms. BNP and JPMorgan are also said to be serial investors in crypto.
Prominent banks investing in crypto are part of the bigger trend of large entities backing blockchain startups.
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In fact, the research also shows that banks that are into crypto are focusing on crypto custody. Apparently, about a quarter of the top banks by AUM are either backing startups that offer custodial services of digital assets or developing custody solutions themselves.