According to a research released on January 29, 2022 by American Banker, the number of banks that supply crypto goods and services is expected to more than twofold by the end of 2022. It is based on forecasts from 153 top banking executives from regional and worldwide financial institutions.
According to the findings of the study, 44 percent of bank executives expect to provide some sort of crypto support to consumers by the end of the year. Furthermore, the study suggests that a third of financial managers are planning to actively manage their customers’ bitcoin portfolios, compared to only 13 percent as of now.
Banking executives forecast that this year’s focus will be on how clients transfer their money. Now, banks will compete aggressively to keep customers and extend their “wallet share” through a range of services, according to the research.
Apart from automating and lowering the costs of these operations, blockchain-based money transactions settle within seconds rather than days, so it will be remarkable to see how banks use them this year. Automated payment systems, funds transfer, low-cost cash payments, debit and credit cards are just a few of the services that will be provided.