These 13 banks have invested the most in crypto and blockchain to date | Currency News | Financial and business news

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Blockdata has compiled a list of the 13 banks that have invested the most in cryptocurrency and blockchain companies to date. Coinbase, Ripple, and NYDIG have secured financial backing from major banks. 55% of the 100 largest banks in the world invest in the crypto and blockchain space. See more stories on the Insider business page.

Financial institutions are grabbing a share of the booming $ 2 trillion cryptocurrency market, according to analyst firm Blockdata, with 13 of the world’s largest banks having invested around $ 3 billion so far. dollars in cryptocurrency and blockchain companies.

The data firm in an updated report this week released a list of 13 banks that are leading the size of funding rounds as an investment proxy in the crypto space, claiming they are using this measure because the banks were participating in financing rounds with several or more other investors.

London-based Standard Chartered tops the list with a valuation of $ 380 million from the rounds in which it has participated, while its London rival Barclays ranked as the most active investor based on the number of ‘investments in blockchain companies.

Blockdata found that 55% of the world’s 100 largest banks in terms of assets under management invest directly or indirectly in businesses and projects related to digital currencies and blockchain.

Here is the list of the top 13 banks in terms of size of financing rounds as an investment indicator:

1. Standard Chartered – $ 380 million and 6 investments

The bank’s investments include the Ripple blockchain network, whose XRP token has a capitalization of around $ 48 billion, according to Coinmarketcap.com, making it the sixth largest cryptocurrency by market value. It is also an investor in Cobalt, a UK based trading technology provider.

2. BNY Mellon – $ 321 million and 5 investments

On BNY’s list is Fireblocks, whose platform allows financial institutions to issue, move, and store cryptocurrencies. Banks have invested the most in crypto custody, or services in which companies look after their customers’ digital assets for a fee, Blockdata said. It revealed that 23 of the top 100 banks are building their own custody technology or integrating a technology vendor’s product into their own systems.

3. Citibank – $ 279 million and 14 investments

The fourth-largest bank in the United States by assets has invested in SETL, whose ledger technology is used to move cash and other assets.

4. UBS – $ 266 million and 5 investments

The range of the Swiss banking heavyweight includes Axoni, whose technology is used to modernize infrastructure in capital markets.

5. BNP Paribas – $ 236 million and 9 investments

The French financial group was working with Digital Asset to develop real-time trading and settlement applications using smart contracts based on the DAML programming language.

6. Morgan Stanley – $ 234 million with 3 investments

One of its investments is NYDIG, a crypto custodian and the bitcoin subsidiary of Stone Ridge, a $ 10 billion alternative asset manager.

7. JP Morgan Chase – $ 206 million and 8 investments

ConsenSys, an ethereum software company, has received backing from the largest bank in the United States.

8. Goldman Sachs – $ 204 million and 8 investments

Its list includes Coin Metrics, a blockchain data provider to institutional clients.

9. MUFG – $ 185 million and 6 investments

Japan’s Mitsubishi UFJ Financial Group has invested in Coinbase, the U.S. cryptocurrency exchange that went public in April, and Bitflyer, a Tokyo-based cryptocurrency exchange.

10. ING – 170 million dollars and 6 investments

The Dutch multinational has supported HQLAx, a blockchain liquidity management platform.

11. BBVA – $ 167 million and 5 investments

The Spanish lender’s list includes Covault, whose technology is used to store, share and verify identities.

12. Nomura – $ 146 million and 5 investments

Quantstamp, a blockchain security company, is one of the companies the Japanese bank is backing.

13. Barclays – $ 12 million and 22 investments

The British multinational’s investment list includes RealBlocks, a technology platform that connects advisers and investors with alternative investment managers.

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