Banking and crypto adoption: how financial institutions can become leaders in the crypto space

The future of finance is already happening. Despite some recent setbacks in the market, like crypto winter, cryptocurrency is here to stay–and the forward-thinking mindset that drives its adoption is only spreading. We envision a not-so-far-off world in which we look back with wonder at this early adoption stage, unable to imagine a financial ecosystem without crypto at the center of it.

However, in order to make this world become reality, we need major players to become fully invested in the mission. One of the biggest allies that the crypto world has yet to fully partner with and explore is the financial institution. Ranging from traditional banks to next-gen fintechs, these organizations may be key to unlocking crypto’s full potential, and creating innovative, future-ready forms of commerce—some of which haven’t even been dreamed up yet.

But what makes the cryptocurrency world such a natural partner for financial institutions? There is a myriad of factors, but here’s a good starting place:

• Crypto can attract younger customers
• Current and potential crypto customers seek all-in-one convenience
• Customers look to the businesses they do banking with for crypto education
• Crypto as a branding opportunity

Bakkt’s report, “How Financial Institutions Can Be at The Forefront Of Crypto Adoption” explores each of these four points, outlining the ways in which cryptocurrency and financial institutions can begin to construct a mutually-beneficial relationship—a relationship that has the potential to change the world. With prices low and momentum strong, now is the perfect time to act. And it’s easier than you think to get started.