By CryptoNews - 5 months ago - Reading Time: 2 minutes
Top Global Banks Reveal $10.27 Billion in Crypto, XRP Among Top Investment
Source: AdobeMajor global central banks, spanning Europe, North America, and other regions, have revealed a significant investment in crypto, with XRP emerging as a preferred digital asset.
According to the Basel Committee on Banking Supervision (BCBS), a global regulatory authority on banks, 45 member central banks are exposed to digital assets, signaling a growing engagement with cryptocurrencies.
19 Major Banks Reveal $10.27 Billion Investment in Crypto
The BCBS report delves into the crypto activities of its member banks, revealing that 19 of them, spanning North America, Europe, and other global regions, have included crypto asset data in their financial records.
Impressively, the cumulative exposure of these banks to digital assets amounts to €9.4 billion, equivalent to a substantial $10.27 billion.
Interestingly, the BCBS report sheds light on the distribution of crypto exposures among central banks, disclosing that only two banks hold more than half of the reported total crypto investment positions.
Four other banks account for almost 40% of the remaining exposures, highlighting an uneven distribution in the global banking sector’s approach to digital assets.
Further analysis of the data in the BCBS report unveils specific details about the banks’ exposure to different cryptocurrencies.
XRP Among Top Investment Options
XRP emerges as the third-largest altcoin in terms of digital asset investment options, constituting 2% of the total exposure. This amounts to XRP tokens valued at $205 million or €188 million.
Bitcoin (BTC) and Ethereum (ETH) take center stage as the dominant assets in the banks’ crypto exposure. Together, these two cryptocurrencies make up almost 53% of the total exposure.
BTC alone represents 31%, while ETH constitutes 22%. Additionally, the report highlights the inclusion of other prominent digital assets in the banks’ portfolios, such as Solana (SOL), Polkadot (DOT), Litecoin (LTC), Cardano (ADA), Stellar (XLM), among others.
In conclusion, the BCBS report provides a comprehensive overview of global banks’ involvement in cryptocurrencies, with XRP, Bitcoin, and Ethereum comprising a significant 90% of the total crypto exposure.
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Original source: CryptoNews