A commercial bank survey conducted by the Federal Reserve in May shows only small pockets of interest in blockchain and digital assets. When asked about the relative priority of distributed ledger technology (DLT) and digital assets in the next two years, 56% said it was low or no priority, and 27% ranked it as moderate to high importance.
However, these figures may be slightly misleading. The answer to the same question showed that 37% of domestic institutions consider DLT and digital assets medium to high priority in the next 24 months compared to just 15% for foreign banks. Over a two to five year timeframe, the domestic figure rises to 50% compared to 29.5% for U.S. branches of overseas banks.
It’s conceivable these foreign bank branches are not clued into what their parent banks are planning. After all, they are not likely to be on the innovation frontline.
Article continues …
Want the full story? Pro subscribers get complete articles, exclusive industry analysis, and early access to legislative updates that keep you ahead of the competition. Join the professionals who are choosing deeper insights over surface level news.
