Major central banks worldwide, including those in Europe, North America, and various other regions, have disclosed a substantial commitment to cryptocurrency, with XRP standing out as a favored digital asset.
As per the Basel Committee on Banking Supervision (BCBS), a global regulatory body overseeing banks, 45 central banks that are members of the committee are involved with digital assets, indicating an increasing involvement with cryptocurrencies.
19 Major Banks Reveal $10.27 Billion Investment in Crypto
The BCBS report extensively explores the cryptocurrency activities of its member banks, uncovering that 19 of them, spanning regions such as North America, Europe, and other global areas, have integrated crypto asset data into their financial records.
Remarkably, the collective exposure of these banks to digital assets stands at €9.4 billion, which is a substantial $10.27 billion.
Notably, the BCBS report provides insight into the distribution of crypto exposures among central banks, revealing that only two banks possess more than half of the total reported crypto investment positions.
Additionally, four other banks contribute to almost 40% of the remaining exposures, underscoring an uneven distribution in how the global banking sector approaches digital assets.
Upon closer examination of the data in the BCBS report, specific details about the banks’ exposure to various cryptocurrencies are unveiled.
XRP Among Top Investment Options
XRP has secured its position as the third-largest altcoin in terms of digital asset investment options, contributing 2% to the overall exposure. This translates to XRP tokens valued at $205 million or €188 million.
Bitcoin (BTC) and Ethereum (ETH) take the lead as the dominant assets within the banks’ crypto exposure, jointly constituting nearly 53% of the total. BTC alone accounts for 31%, while ETH comprises 22%. The report also underscores the inclusion of other notable digital assets in the banks’ portfolios, including Solana (SOL), Polkadot (DOT), Litecoin (LTC), Cardano (ADA), Stellar (XLM), among others.
In summary, the BCBS report presents a comprehensive panorama of global banks’ participation in cryptocurrencies, with XRP, Bitcoin, and Ethereum collectively making up a substantial 90% of the total crypto exposure.