Banks invest billions as blockchain goes mainstream
Financial institutions see blockchain as key to modernising finance, with 90% of executives expecting major impacts by 2028.
Traditional banks have invested over $100 billion in blockchain projects from 2020 to 2024, showing that digital assets are going mainstream. A report by Ripple, CB Insights, and the UK Centre for Blockchain Technologies reviewed over 10,000 deals and surveyed 1,800 finance leaders globally.
Despite regulatory uncertainty and market volatility, banks are boosting custody, tokenisation, and payment infrastructure investments.
Payment infrastructure attracted the most funding, followed by crypto custody and on-chain foreign exchange. About 25% of investments target firms supporting settlement and asset issuance rails.
Over 90% of finance executives expect blockchain and digital assets to have a significant impact on finance by 2028.
Banks focus on digital asset custody, stablecoins, and tokenised real-world assets, while consumer-facing crypto services remain less critical.
The report highlights that investment aims to modernise finance systems rather than fuel speculation. Many banks plan digital asset initiatives within three years, from tokenised bonds to interoperable layers for CBDCs and stablecoins.
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