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(Kitco News) - According to the latest Basel III Monitoring report, banks are in no hurry to adopt cryptocurrency and blockchain technologies.
The new report, which was commissioned by the Bank for International Settlements (BIS), shows that the 19 largest financial institutions reportedly hold 9.4 billion ($9.18 billion) worth of crypto, which equates to 0.14% of “total exposure on a weighted average basis across the sample of banks reporting cryptoasset exposures.”
“When considering the whole sample of banks included in the Basel III monitoring exercise (ie also those that do not report cryptoasset exposures), the amount shrinks to 0.01% of total exposures,” the report said.
This means that in total, the global bank exposure to crypto is only 0.01%, a clear sign that banks are not the driving force...
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