Despite the recent turmoil in the crypto sector with the collapse of well known projects, the overall exposure of traditional financial institutions and family offices into cryptoassets increased extensively.
Large banks like JPMorgan are officially now doing trades on public blockchains like Polygon while leveraging Aave. Other banks like UBS officially announced that their investment banking arm will offer tokenization services.
The clients are demanding more digital assets products. As a result more and more banks are defining their market entrance with services and products, as well as installing the needed regulatory clearance, processes and infrastructure.Stabecoins like Tether gain more and more popularity for international (inter-)company money transfers.