Key Points:

• A new study by Ripple and CB Insights shows traditional banks engaged in 345 blockchain deals from 2020 to 2024, emphasizing payments and tokenization.
• The study estimates that global blockchain investments have surpassed $100 billion, with over 10,000 deals reported, while indicating that 90% of finance leaders predict significant impacts by 2028.
• Banks like HSBC, Goldman Sachs, and SBI are highlighted for their blockchain innovations in tokenized assets and secure settlements.

Traditional banks are reported to have invested more than $100 billion in blockchain since 2020, according to findings from Ripple’s joint study with CB Insights and the UK Centre for Blockchain Technologies. This research, which analyzed over 10,000 blockchain-related deals, emphasizes how major banks are increasing spending on custody, tokenization, and payment infrastructure despite facing regulatory uncertainties and market volatility.

This study provides insights about the industry’s transition towards blockchain integration, particularly as finance executives expect these technologies to reshape financial landscapes by 2028. Approximately 25% of the investments concentrated on infrastructure facilitating blockchain transactions and asset issuance.

The report notably brings attention to HSBC and its tokenized gold platform, Goldman Sachs following blockchain paths with its GS DAP tool, and SBI’s pioneering work in digital currency. Despite banks generally avoiding immediate investment in consumer-facing digital assets, the shift towards operational upgrades in cross-border payments is clear.

Ultimately, the pressing question rests on how quickly these institutions can pivot to the forthcoming digital asset landscape while focusing on modernizing financial systems without indulging in speculative ventures.