Every year, new statements about blockchain technology’s rapid development in the banking sector appear. Since the industry is dynamically evolving, this implementation pace increases. However, banking isn’t a one-size-fits-all industry.
Obviously, technological adoption rates, legal systems, and regulations vary for different markets. Some regions implement new technologies such as blockchain more intensively, while others take a more measured approach. The clearest point is that financial institutions find blockchain a potential solution for a variety of challenges.
The global market for Fintech Blockchain was valued at $3.4 Billion in 2024 and is expected to reach $49.2 Billion by 2030, highlighting a growing demand for financial institutions in the implementation of this technology.
Already, two of the world’s largest financial institutions, Citi and Société Générale, have undertaken several steps to reshape conventional banking processes. The former has launched a tokenized inter-branch deposit system called Citi Digital Cash to streamline transactions within the bank’s network, while the latter has issued a euro-denominated stablecoin on Ethereum to make digital payments faster and more secure. Moreover, last month, the Governing Council of the ECB decided to expand its initiative …
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