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ARTICLE · 10 JANUARY 2023

Six Takeaways For Banks Before Leaping Into The Crypto Market

FTI Consulting
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Cryptocurrency is a major long-term disruptor. Banks, financial services firms and regulators all know this. Even after wild fluctuations that saw two of the largest digital currencies, Bitcoin...

United StatesTechnology
Frank Sui
Frank Sui
Jessica de Brignac
Jessica de Brignac
Preston Fischer
Preston Fischer
Paul Feldman
Paul Feldman
Ozgur Vural
Ozgur Vural

Despite the volatility around cryptocurrency, incumbent banks are intrigued by its potential. Here are six ideas ways they can seize the moment.

Cryptocurrency is a major long-term disruptor. Banks, financial services firms and regulators all know this. Even after wild fluctuations that saw two of the largest digital currencies, Bitcoin and Ethereum, drop in value by more than 50%1 from their all-time highs in 2021, the market maintained high valuations. As of November 2022, the total value locked in decentralized finance (DeFi) protocols,2 one of the most-followed metrics in the crypto industry, was approximately US$56 billion — a 141% compound annual growth rate over the last two years.

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