Banks providing crypto services to double in 2022, study suggests

In light of the increasing use of cryptocurrencies throughout the globe, the number of banks offering crypto-related services is continuing to expand.

Indeed, the number of banks that provide crypto products and services is predicted to more than double by the end of 2022, according to a study published on January 29, 2022, by American Banker featuring predictions from 153 senior banking executives from regional and global financial institutions.

The survey’s findings indicate that 44% of banking executives anticipate offering some type of crypto assistance to customers by the end of this year. Whatsmore, a third of financial managers anticipate actively managing their clients’ cryptocurrency portfolios, compared to just 13% who already do so.

“Two out of 10 financial advisors currently advise clients on crypto holdings but that percent is expected to double by the end of 2022,” the study revealed.

Crypto holdings 2022 Prediction. Source: Arizent Research
Clients expected to grow their crypto holdings 

Aside from that, 60% of wealth management advisers believe that their customers would grow their crypto holdings or begin investing in such digital assets by 2022, according to the report.

Percentage of clients who own crypto 2022 Prediction. Source: Arizent Research