"Annual Banking Report Predicts Increased Crypto Services in 2022," Blockchain Law Center
"American Banker" published its annual banking predictions based on survey results from 175 leaders and staff at banks and FinTechs, including C-suite and senior business unit executives. Regarding cryptocurrency, nearly 40% of survey participants reported that they will be "likely/somewhat likely" to offer cryptocurrency services next year.
The report found that two out of ten financial advisors currently advise clients on crypto holdings, but that advisors expect that percentage to double in 2022. Additionally, only 4% of survey participants reported that their clients are currently invested in cryptocurrency, but 60% of participants expect that number to increase in 2022.
The report's findings are representative of the greater trend of the banking industry's participation in cryptocurrency and blockchain technology.
The full report can be found here.
DISCLAIMER: This article was originally published by McGonigle PC prior to their combination with Davis Wright Tremaine LLP. The article is published here with permission