You can check the website statistics yourself or request them from us at [email protected]
On this platform, only organic high-quality traffic
Bitcoin
$ 30,725

Top Global Banks Reveal $10.27 Billion in Crypto, XRP Among Top Investment

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.

Related Posts

Leave a Reply

Confirm now and stay with our news

What we write about

I want to save money. Will cryptocurrency work?

Cryptocurrency is essentially virtual money that operates in a decentralized manner, not through a bank but directly on multiple independent computers.

Every cryptocurrency has two main components: the units of digital exchange called “coins” and the network within which the exchange takes place. These units can be transferred between wallets and exchanged on exchanges. The networks in which these coins exist are called blockchains, which translates to “chains of blocks.”

Latest Articles

S&P Global Ratings joins Singapore MAS’s Project Guardian
28.06.2024By
Boden Memecoin Crashes After US President Biden’s Poor Debate Performance
28.06.2024By
Steno Research Expects $15-20B Inflows into Ether Spot ETFs, Predicts $6,500 Price Target
28.06.2024By

Latest news

S&P Global Ratings joins Singapore MAS’s Project Guardian
28.06.2024
Boden Memecoin Crashes After US President Biden’s Poor Debate Performance
28.06.2024
Steno Research Expects $15-20B Inflows into Ether Spot ETFs, Predicts $6,500 Price Target
28.06.2024
Bitcoin Mining Firm CleanSpark Acquires GRIID in $155M Stock Deal
28.06.2024
Elastos Partners With BEVM to Launch Bitcoin P2P Loans, Targeting $1.3T in Dormant Value
28.06.2024
Coinbase Files Lawsuits Against SEC, FDIC Over FOIA Request
27.06.2024
UK Watchdog Boosts Crypto Division to 100 Staff Members
27.06.2024
Hong Kong Government Explores DeFi and Metaverse to Boost Fintech Dominance
27.06.2024
Spot Ether ETFs May Receive US Approval by July 4: Report
27.06.2024
Bitcoin ETFs See Inflows for Second Consecutive Day as BTC Holds Steady at $60K
27.06.2024