During April BTC Peak, 61% of Surveyed Financial Institutions Said Crypto Access ‘Extremely’ Important

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In the first half of last year, a solid 61% of surveyed financial institutions deemed access to cryptocurrencies “very” or “extremely” important to their corporate clients. This made access to cryptocurrencies the most cited financial service after payment acceptance, according to a survey by the payment news and data provider. PYMNTS.

The survey, conducted by PYMNTS and sponsored by the issuer of the USD currency (USDC) Circle, is based on responses obtained from some 250 multinational financial institutions with operations in foreign territories. These companies generate at least $ 10 million in annual revenue each.

However, although the findings were published this week, it is important to note that the responses were collected between April 7 and April 27, 2021, during a spike in the price of bitcoin (BTC). The highest price in this time period was $ 63,577, recorded on April 14, by CoinGecko. BTC hit a new and latest all-time high of 69,044 last November.

That said, the company’s report found that,

“More than 90 percent of banks believe that their corporate and government clients would use cryptocurrency to invest and transact instead of one or the other.”

In addition, those companies that have operations distributed in a greater number of countries were more likely to use cryptocurrencies both to invest and to carry out transactions, PYMNTS found. The survey shows that three-quarters of companies operating in at least six countries use at least one type of cryptocurrency.

The survey also indicated that financial institutions at the time of their response were confident in the willingness of companies to use selected crypto for investments, transactions, or both. Up to 96.6% of financial institutions said that companies would use ethereum (ETH) for these purposes, and 96.2% said the same for stablecoins.

For bitcoin cash (BCH) and bitcoin, 95.9% and 93.2% of respondents representing financial institutions gave a positive response, respectively, as the report data shows.

At the same time, the survey found that,

94% of financial institutions employed “dedicated staff to design future strategies around blockchain and cryptocurrency technologies, compared to just 54% of companies.”


Learn more:
– Increase in the number of investors selling stocks, bonds to buy cryptocurrencies – Survey
– 16% of Americans surveyed are crypto investors, traders and users – Think Tank

– Almost a third of professional investors accompany advisers to buy cryptocurrencies – Survey
– More US crypto investors to Hodl than short-term earnings

– Americans invest more and more in crypto even during the recession
– Goldman Sachs Ultra Rich Clients Send Bullish Crypto Signals

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