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Author: Admin | 2025-04-28
How Many of the Top 50 Banks in the World Support Crypto Trading?37 of the 50 (74%) biggest global banks by assets under management in 2023 support crypto trading through connecting to regulated crypto exchanges like Binance and Coinbase – allowing the seamless transfer of funds from bank accounts. However, none currently support retail crypto trading or on-ramping from their respective native platforms.The adoption of blockchain-based solutions by big banks has been relatively slow compared to other sectors. Strict regulations, market volatility, and recent high-profile failures of exchanges like FTX have hindered the integration of cryptocurrency trading into these large banks.In 2023, the top 50 biggest banks in the world managed a combined $89.37 trillion worth of assets. The list is dominated by the two largest economies, US and China, with 19 banks ranking in the top 50. The top 4 banks are all Chinese and manage $19.87T worth of assets, over 20% of the total.Neobanks and a new way of bankingAs a result of the reluctance of big banks to implement native crypto trading, Neobanks like Revolut and Wirex have taken advantage and even have crypto cards that let customers pay for goods and services using crypto just like a regular debit card.The global cryptocurrency market capitalization currently stands at $1.22T, and with the rapid growth of some of these neobanks, it might not be too long before one breaks into the top 100.Asia’s Hard Stance on CryptoAll the 13 banks that do not allow connections are based in China, a country with an infamously anti-crypto stance. In 2013 the People’s Bank of China banned financial institutions from making transactions in virtual currencies, and outlawed all forms of crypto transactions and mining in 2021.The Chinese government is rumored to be introducing its own cryptocurrency to keep the crypto market under state control - a digital version of the yuan has already been trialed, with a national rollout being the next step.China could be pulled back into the crypto marketHong Kong appears to be more open to crypto trading, inviting Coinbase and other crypto exchanges to set up in the
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