76% of financial institutions intend to integrate crypto services by 2025

English Aug 16, 2022

According to Ripple's latest report, Value Report, 76% of financial institutions plan to use cryptocurrencies in their operations by 2025.

The report indicates that despite recent declines in the price of digital assets, three-quarters of financial institutions remain intent on entering the cryptocurrency market.

Most of these institutions, however, said they will delve deeper into the sector, as long as there is an appropriate regulatory framework.

According to most participating institutions, the main reason they have not yet integrated into cryptocurrencies is the lack of proper regulation, as well as the various scams that have taken place in the space lately.

Another factor that should drive cryptocurrency adoption is banks and their attitude towards the sector. About 65% of respondents admitted they would be much more inclined to invest in bitcoin or altcoins if their local financial institution provided these services, while only 17% said it wouldn't matter.

At a regional level, companies and individuals based in Latin America seem most interested in the sector.

About 50% of them believe that cryptocurrencies will have a huge impact on the future economy, while 35% of European respondents share the same thoughts.

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Morel Hernandes

Writer passionate about politics, economics, blockchain and crypto-currencies.