______________________________________________________
Nearly 75% of the World’s Largest Banks Support the Transfer of Funds to Major Crypto Exchanges: CoinGecko
Daily Hodl Staff
August 1, 2023
An overwhelming majority of the world’s largest banks support the transfer of client funds to major crypto exchanges, according to a new study by digital asset data aggregator CoinGecko.
The study examines how crypto-friendly the world’s largest 50 banks are based on two criteria: whether they offer crypto trading or on-ramping services within the bank’s native platforms, and whether they offer the ability to connect a bank account to a major crypto exchange, such as Coinbase, Binance or OKX.
Says the report,
“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 largest banks that allow account connections to crypto exchanges include the US-based banks JPMorgan Chase and Bank of America, the UK-based HSBC, and the Japan-based Mitsubishi UFJ Financial Group.
The 13 banks on the list that do not allow account connections to exchanges, including the world’s largest four banks by assets under management, are located in China, according to the report.
Advertisement
______________________________________________________
“All 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.”
Source: The Daily Hodl
______________________________________________________
If you wish to contact the author of a post, you can send us an email at voyagesoflight@gmail.com and we’ll forward your request to the author (if available). If you have any questions about a post or the website, you may also forward your questions and concerns to the same email address.
______________________________________________________
All articles, videos, and images posted on Dinar Chronicles were submitted by readers and/or handpicked by the site itself for informational and/or entertainment purposes.
Dinar Chronicles is an informational news aggregator. All content, including third-party reports and community commentary, is provided for educational purposes only. We do not provide financial, legal, or tax advice. We do not recommend the purchase or sale of any currency or investment. Please consult with a licensed professional before making any financial decisions.
Copyright © Dinar Chronicles
______________________________________________________
