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The vast majority of US banks have no plans to offer some basic cryptocurrency-related services. For even the most widely adopted service—crypto investing or trading—only 1% currently offer it, and 78% have no plans to support it.
Beyond the chart: In July, JPMorgan Chase became the first major US bank to extend crypto access to all retail customers, beyond just the very wealthy, in a bid to keep their eyes from wandering to fintechs like Robinhood and Coinbase. Since then, few traditional banks have followed it onto the crypto bandwagon, either due to risk aversion or lack of the necessary digital infrastructure. So, while crypto feels like it’s everywhere, from the Super Bowl to social media, it hasn’t made much headway in the banking space.