According to analytics firm Blockdata, 13 of the world’s leading banks have invested nearly $3 billion in cryptocurrency and blockchain startups so far. Here is the Top 5.
1) Standard Chartered: $380 million invested
The Ripple blockchain network, whose coin XRP has a market capitalization of nearly $16 billion, is one of the bank’s sizeable investments. Standard has also invested in Cobalta UK-based trading technology provider.
2) BNY Mellon: $321 million invested
Fireblocks, whose technology allows financial institutions to issue, send and store cryptos, is among BNY’s investments. According to Blockdata, the sector of cryptocurrency custody (Custody), i.e. services in which companies take care of the digital assets of their customers for remuneration, has seen the largest investments from the part of cryptocurrencies. banks. The study found that 23 of the top 100 banks develop their own custody technology in-house or incorporate third-party software.
3) Citibank: $279 million invested
Ledger technology developed by SETLwhich is used to transfer cash and other assets, received investments from the fourth largest bank in the United States by assets.
4) UBS: $266 million invested
The Swiss banking giant’s list of investments includes Axoni, whose technology is used to upgrade capital market infrastructure.
5) BNP Paribas: $236 million invested
The French giant is not left out. The bank collaborated with Digital Asset to create real-time trading and settlement applications using smart contracts built on the programming language DAML.
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Alm Maye has been a trader and analyst since 2013. He is an expert in equity markets, Forex and cryptocurrencies. He is the creator of Almvest.com and Imveste.com, two sites dedicated to personal finance. He participates in the development of feature articles on specialized sites such as Actions-boursieres.fr, as well as the international network of Finixio.com.