55% of the world’s 100 leading banks by assets under management are investing either directly or indirectly in companies related to digital currencies and blockchain. According to analytics company Blockdata, 13 of the world’s largest banks are pushing roughly $3 billion in funding into crypto and blockchain companies. These 13 banks lead in terms of the size of funding rounds as a proxy of investment into the blockchain space. They are as follows:

1. Standard Chartered: $380 million & 6 investments

Investments of the Standard Chartered bank include blockchain network Ripple, whose XRP token has a capitalization of around $48 billion, making it the sixth-largest cryptocurrency by market value. It is also an investor in Cobalt, a trading technology provider based in the UK.

2. BNY Mellon: $321 million & 5 investments

Thanks to Block data, banks have invested the most in crypto custody or services under which companies look after their clients’ digital assets for a fee. It found that 23 of the top 100 banks are either building their custodial technology or integrating a tech provider’s product into their systems. BNY’s investments include Fireblocks, whose platform allows financial institutions to issue, move & store cryptocurrencies.

3. Citibank: $279 million & 14 investments

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

4. UBS: $266 million & 5 investments

The Swiss banking heavyweight’s lineup includes Axoni, whose technology is used to modernize infrastructure in capital markets.

5. BNP Paribas: $236 million & 9 investments

The French financial group worked with Digital Asset to develop real-time trade & settlement applications using smart contracts based on the DAML programming language.

6. Morgan Stanley: $234 million with three investments

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

 

Most major banks are investing in crypto and blockchain-related companies in 2021.

Out of the top 100 banks by assets under management, 55 have invested in cryptocurrency and/or blockchain-related companies.

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7. JP Morgan Chase: $206 million & 8 investments

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

8. Goldman Sachs: $204 million & 8 investments

Goldman Sachs has invested in Coin Metrics, which provides blockchain data to institutional clients.

9. MUFG: $185 million & 6 investments

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

10. ING: $170 million & 6 investments

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

11. BBVA: $167 million & 5 investments

The Spanish bank’s list of investments includes Covault, used to store, share & verify identities.

12. Nomura: $146 million & 5 investments

One of the companies this Japanese bank is backing is Quantstamp, a blockchain security firm.

13. Barclays: $12 million & 22 investments

The British multinational’s investments include RealBlocks, a tech platform that connects advisors & investors to alternative investment managers.