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Author: Admin | 2025-04-27
City.There are other rumors that a crypto renaissance could spread to the rest of mainland China, with the Beijing Municipal Science and Technology Commission and the Zhongguancun Science and Technology Park Management Committee releasing a white paper on Web3 technologies at the end of May. India has bans tooIndia is another country with a hesitant view of the cryptocurrency market. The central bank repeatedly insisted on banning crypto outright and issued their own e-currency in an effort to deter crypto trading. They also banned banks from dealing with cryptocurrencies in 2018, although this was later overturned by the Supreme Court. Institutional trading is going strongHowever, blockchain technology is still firmly in the scope of big banks. Institutional clients have been able to get exposure to cryptocurrencies natively for some years at several banks:JPMorgan was the first bank to develop its own digital currency JPM Coin back in 2019 on an internally developed, private version of Ethereum.Goldman Sachs announced the formation of a cryptocurrency trading desk in 2021 as part of the Global Currencies and Emerging Markets division. This allows them to trade in bitcoin futures and nondeliverable forwards, but they do not yet deal with actual bitcoin.Société Générale launched their EURCV stablecoin on Ethereum in April of this year – the first on a public blockchain.Crypto custodiansOne way that banks use to begin edging towards full retail crypto trading is through partnerships with crypto custody firms. One firm that has signed deals with several banks in the top 50 is Swiss digital asset safekeeping company Metaco.As of May 2023, Metaco has signed deals with BNP Paribas, Société Générale, Citigroup and Banco Bilbao Vizcaya Argentaria (BBVA). The deals with Société Générale and Citigroup focus primarily on tokenized versions of stocks or other securities, so although cryptocurrencies are not included it is a substantial first step on the way to full integration.Which Banks Are Crypto-Friendly?The following table lists which of the top 50 biggest banks are connected through licensed crypto exchanges, in 2023: Rank Bank Headquarters Connected to Licensed Crypto Exchange 1 Industrial and Commercial Bank of China Ltd. China No 2
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