How cryptocurrencies create new market opportunities for banks and financial services providersHow cryptocurrencies create new market opportunities for banks and financial services providers

How cryptocur­rencies create new market oppor­tu­nities for banks and financial services providers

“The impor­tance of cryptocur­rencies is growing ever faster. Banks can use their expertise in imple­menting regulatory issues to gain a good starting position in the market for cryptocur­rency services such as key custody. Through their existing compe­tences in dealing with crypto­graphic proce­dures, e.g. in autho­ri­sation, online banking or PIN protection, banks already bring along a large part of the technical prereq­ui­sites for entering this business field.” SRC expert Dagmar Schoppe explains the oppor­tu­nities for banks and financial service providers with regard to the devel­opment of cryptocur­rencies in an article just published on the specialist platform “”.

Are there depen­dencies on the digital euro?

The increasing interest in cryptocur­rencies — in addition to the rapid rise in the euro equiv­alent to a bitcoin observed in recent days — should also be seen in connection with the discussion about the intro­duction of a digital euro. The digital euro — according to the perception in the German banking industry (DK) — is assessed as a forward-looking means of payment in a digital economy that coher­ently comple­ments the existing and proven systems and struc­tures. In this context, the greatest possible synergies should be sought with existing payment trans­action solutions so that access to digital central bank money can be secured for end consumers.

New oppor­tu­nities in the digital­i­sation of business processes

Insti­tu­tions face the challenge of increasing their visibility in this new market segment in order to then be able to respond to requests from customers, retailers as well as service providers. In the medium term, the generally growing interest in cryptocur­rencies can also result in oppor­tu­nities for insti­tu­tions that, for example, offer their corporate customers self-issued cryptocur­rencies to support them in the digital­i­sation of their business processes.

The SRC experts follow the exciting devel­op­ments in the field of cryptocur­rency and the digital euro for you and support you in the reali­sation of your crypto custody service. We will be happy to inform you about the oppor­tu­nities to get involved in this innov­ative sector.

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