Global Banks Are Betting Big On XRP, Report Shows
NewsBTC
21 Nov 2023 2:00 PM
Global banks have begun actively integrating crypto assets into their financial operations, and XRP has been one of their top preferences....
- Global banks are integrating crypto assets into their financial operations, with XRP being a top preference.
- The Basel Committee on Bank Supervision (BCBS) has published a report on banks' holdings of crypto assets, revealing insights into global banks' exposure to cryptocurrencies.
- Out of 182 world banks, 19 submitted their crypto asset data to the BCBS, with the majority featuring XRP, BTC, and ETH.
- XRP emerged as the third-largest altcoin utilized for bank engagements, comprising 2% of the total crypto asset exposures.
- The total crypto asset exposures submitted by global banks amounted to €9.4 billion, with XRP, BTC, and ETH being the most prominent.
The article highlights the growing interest of global banks in integrating XRP and other crypto assets into their financial operations. This signifies a shift in skepticism surrounding cryptocurrencies and reveals the potential of XRP as a cross-border payments system. The sentiment is positive.
You May Ask
What are some of the top preferences of global banks when it comes to integrating crypto assets into their financial operations?How many banks submitted their crypto asset data to the Basel Committee on Bank Supervision (BCBS) for review and analysis?What were the major crypto assets featured in the reports submitted by global banks?What percentage of the total crypto asset exposures did XRP comprise among the global banks?What insights does the Basel III monitoring exercise report provide about the position of cryptocurrencies in the financial sector?