According to the analytical company Blockdata, financial institutions are capturing part of the fast-growing $ 2 trillion cryptocurrency market, while 13 of the world's largest banks have currently sent funding worth about $ 3 billion to companies engaged in cryptocurrency and blockchain.
The information company in an updated report this week published a list of 13 banks that are leading in terms of funding rounds as an indirect indicator of investments in the crypto space, saying that they used this measure because banks participated in funding rounds with several investors.
London-based Standard Chartered tops the list with an estimate of $ 380 million in funding rounds in which it participated, while its London-based competitor Barclays is recognized as the most active investor in terms of the number of investments in blockchain companies.
Blockdata found that 55% of the 100 largest banks in the world by assets under management directly or indirectly invest in companies and projects related to digital currencies and blockchain.
Here is a list of the 13 largest banks in terms of the size of funding rounds as an indirect indicator of investment:
- Standard Chartered — $ 380 million and 6 investments.
Investments in the bank include the Ripple blockchain network, whose XRP token has a capitalization of about $ 48 billion, according to Coinmarketcap, making it the sixth largest cryptocurrency by market value. He is also an investor in Cobalt, a UK-based trading technology provider. - BNY Mellon — $ 321 million and 5 investments.
The BNY list includes Fireblocks, whose platform allows financial institutions to issue, move and store cryptocurrencies. According to Blockdata, banks invest most of their funds in the field of cryptocurrency storage or services, in which companies look after their customers ' digital assets for a fee. It turned out that 23 of the 100 largest banks either create their own custodial technologies, or integrate the products of a technical service provider into their own systems. - Citibank — $ 279 million and 14 investments.
The fourth-largest bank in the United States by assets invested in SETL, whose accounting technology is used to move cash and other assets. - UBS — $ 266 million and 5 investments.
The Swiss banking heavyweight includes Axoni, whose technologies are used to modernize infrastructure in the capital markets. - BNP Paribas — $ 236 million and 9 investments.
The French financial group worked with Digital Asset to develop applications for real-time trading and settlements using smart contracts based on the DAML programming language. - Morgan Stanley — $ 234 million with 3 investments.
One of her investments is NYDIG, a crypto custody firm and bitcoin subsidiary of Stone Ridge, an alternative asset manager for $ 10 billion. - JP Morgan Chase — $ 206 million and 8 investments.
ConsenSys, a software company for Ethereum, has received support from the largest US bank. - Goldman Sachs — $ 204 million and 8 investments.
Its list includes Coin Metrics, a provider of blockchain data for institutional clients. - MUFG — $ 185 million and 6 investments
Japanese financial group Mitsubishi UFJ has invested in Coinbase, a cryptocurrency exchange in the United States, which went public in April, and in Bitflyer, a cryptocurrency exchange in Tokyo. - ING — $ 170 million and 6 investments.
A Dutch multinational company has supported HQLAx, a blockchain liquidity management platform. - BBVA — $ 167 million and 5 investments.
The Spanish lender's list includes Covault, whose technology is used for storing, exchanging and verifying identity. - Nomura — $ 146 million and 5 investments.
Quantstamp, a blockchain security company, is one of the companies supported by a Japanese bank. - Barclays — $ 12 million and 22 investments.
The list of investments of the British multinational company includes RealBlocks, a technical platform that connects advisers and investors with alternative investment managers.