European banks outperform US colleagues at Krypto-Custody: How to get a lead and serve the increasing demand

Von Krypto News Österreich

Europäische Banken haben sich zu Vorreitern bei der Verwahrung von Kryptowährungen entwickelt und ihre US-Kollegen überholt. Während US-Banken mit regulatorischen Herausforderungen konfrontiert sind, machen europäische Institute große Fortschritte bei der Nutzung digitaler Währungen. In diesem Artikel erfahren Sie, wie europäische Banken sich im Bereich Krypto-Custody (Verwahrung von Kryptowährungen) einen Vorsprung verschafft haben, welche Akteure an der Spitze stehen und wie hoch die Nachfrage nach diesen Dienstleistungen ist. Europäische Banken haben in den letzten Jahren bewiesen, dass sie digitale Währungen proaktiv nutzen und Krypto-Verwahrungsdienstleistungen anbieten können. Im Gegensatz zu ihren US-amerikanischen Pendants ist es ihnen gelungen, die regulatorischen Rahmenbedingungen besser zu …
European banks have developed into pioneers in the custody of cryptocurrencies and overtaken their US colleagues. While US banks are confronted with regulatory challenges, European institutes are making great progress in using digital currencies. In this article you will learn how European banks have given themselves in the area of ​​crypto-custody (custody of cryptocurrencies), which actors are at the top and how high the demand for these services is. In recent years, European banks have proven that they can proactively use digital currencies and offer crypto attitude services. In contrast to their American counterparts, they have managed to better do the regulatory framework conditions ... (Symbolbild/KNAT)

European banks have developed into pioneers in the custody of cryptocurrencies and overtaken their US colleagues. While US banks are confronted with regulatory challenges, European institutes are making great progress in using digital currencies. In this article you will learn how European banks have given themselves in the area of ​​crypto-custody (custody of cryptocurrencies), which actors are at the top and how high the demand for these services is.

In recent years,

European banks have proven that they can proactively use digital currencies and offer crypto attitude services. In contrast to their US counterparts, they have managed to better master the regulatory framework. According to Forbes, European banks have been able to conquer a considerable market share.

An important player in this movement is Deutsche Bank. At the beginning of 2021 she announced that she wanted to offer the custody of digital currencies and has since applied for a license for digital currencies in Germany. Deutsche Bank thus shows its commitment to use the potential of cryptocurrencies and respond to the needs of its customers.

CACEIS from Credit Agricole is an important player. They have secured the approval for the custody of cryptocurrencies in France and thus consolidate the leading position of Europe in the race for crypto custody. Thanks to your strategic foresight, you can use the growing demand for safe storage and management of digital currencies.

BNP Paribas, a renowned French bank, has also started through a strategic partnership with Fireblocks, a leading crypto custody company, also into the field of cryptocurrency detention. DZ Bank AG, a well -known German banking conglomerate, has a strategic partnership with Metaco, a provider of infrastructures that ensure the security of digital currencies. All of these collaborations show the endeavors of the European banks in which rapidly developing crypto industry to have the front.

In contrast, US banks have to deal with regulatory hurdles that hinder their progress in crypto custody. The guidelines of the US stock exchange supervisory authority SEC treat the crypto assets of customers as liabilities, which is a major hurdle for the banks. The authority's proposal that crypto assets are to be kept for "qualified storage" was criticized by various financial giants because it could disturb well-functioning processes on the financial markets.

The complex relationship between traditional banking institutions and the aspiring area of ​​cryptocurrencies is also illustrated by ongoing legal disputes. Custodia's lawsuit against the Federal Reserve Bank of Kansas City shows that regulatory clarity has to be created in order to meet the increasing demand for crypto attitude services.

The demand for crypto attitude services is heated by the increasing commitment of households and the generation change at the investment preferences. A report by JPmorgan Chase shows that the participation of US households in crypto-assets has increased significantly. This indicates a growing need for safe storage and management of digital currencies.

The Finra Foundation report on Generation Z and investing also shows a significant generation change in the investment projects. Generation Z tends to invest in cryptocurrencies than the millennials. This displacement of interest increases the pressure on US banks to master the regulatory challenges and to adapt to the changing needs of their customers.

In summary, it can be said that European banks are leading in the global race for the custody of cryptocurrencies and have overtaken their US colleagues. Your proactive approach has enabled you to benefit from the growing demand for crypto attitude services. US banks, on the other hand, have to deal with regulatory challenges. It will be crucial that banks worldwide are able to adapt to the changing regulatory landscape and to meet the needs of an increasingly crypto -savvy clientele. At this moment, European banks make the best of this situation.