Global Banks Support Fund Transfer To Crypto Exchanges
According to a new report by digital asset data aggregator CoinGecko, the vast majority of the world’s leading banks enable the transfer of client cash to major crypto exchanges.
The study examines how crypto-friendly the world’s largest 50 banks are based on two criteria: whether they offer crypto trading or on-boarding services within the bank’s native platforms, and whether they allow bank accounts to be linked to major crypto exchanges such as Coinbase, Binance, or OKX.
The report shows that 74% of the 50 largest global banks in 2023 support crypto trading through connecting to regulated exchanges like Binance and Coinbase. However, none of them presently enable retail cryptocurrency trading or on-boarding via their original platforms. The largest banks that allow account connections to crypto exchanges include US banks JPMorgan Chase and Bank of America, UK banks HSBC and Mitsubishi UFJ Financial Group.
(With inputs from Shikha Singh)
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