OBSERVATIONS FROM THE FINTECH SNARK TANK
The rise in the price of Bitcoin, coupled with Coinbase’s IPO debut (which valued the company at ~$85 billion), has helped legitimize Bitcoin and cryptocurrency in the eyes of many doubters and skeptics.
Not among banks, however.
A Cornerstone Advisors survey of senior bank and credit union executives found that eight in 10 financial institutions have no interest in offering cryptocurrency investing services to their customers—and just 2% said they were “very” interested.
Consumers Want Bitcoin From Their Banks
Banks and credit unions appear to be unaware of consumer trends and attitudes regarding cryptocurrency. According to a December 2020 survey