December 11, 2023

According to a recent report, several global central banks still engage in crypto such as XRP through investment options. These banks cut across Europe, North America, and other regions worldwide.

XRP stands out among the highly preferred tokens through their digital assets exposure.

Banks’ Exposure To XRP And Others Amounts To 9.4 Billion Euros Investment Positions

The Basel Committee on Banking Supervision (BCBS) recently released a report on global banks’ investment positions in cryptocurrency. The global regulatory authority on banks noted that 45 of its member central banks have exposure to digital assets.

According to the report, BCBS revealed that its committee has actively dived into cryptocurrency. Over the past five years, several banks have participated in different aspects of supervisory and analytical initiatives in crypto assets.

The report showed that up to 19 member banks of BCBS laid out crypto asset data in their financial records. Surprisingly, ten banks are from North America, while seven are from Europe. The remaining two banks are from different regions of the world.

Further, the report indicated the banks’ exposure levels in terms of their investment positions in digital assets. It noted a cumulative crypto exposure of €9.4 billion worth of crypto assets, equivalent to $10.27 billion.

Further, the report highlighted an uneven distribution of the crypto exposures among the central banks’ financial data. Surprisingly, just two banks have more than half the total crypto investment positions reported. Four other banks hold almost 40% of the remaining crypto exposures.  

Banks’ Crypto Exposure To XRP, BTC, And Others Unveiled 

Expanding the data further, the BCBS report highlighted the details of the crypto exposures from the banks’ data. The findings placed XRP as the third-largest altcoin in terms of the banks’ digital asset investment options. 

The report disclosed that the amount of XRP held represents 2% of the cumulative exposure of €9.4 billion. The value is equivalent to XRP tokens worth $205 million or €188 million.

Global Banks Report Exposure To Crypto With XRP Among the Top Investment Positions

Bitcoin (BTC) and Ethereum (ETH) emerged as the dominant assets in the bank’s crypto exposure. Besides the tokens, the financial institution’s holdings include other products and derivatives that measure BTC and ETH as the underlying crypto assets.

Regarding percentage ratings, the banks’ exposure to Bitcoin and Ethereum amounts to 31% and 22%, respectively. However, holding of BTC’s derivatives and products represents 25% while those for ETH amount to 10%.

The report also noted other prominent digital assets as part of the crypto exposure of the global banks. Among the top 20 tokens are Solana (SOL), Polkadot (DOT), Litecoin (LTC), Cardano (ADA), Stellar (XLM), and others.

However, the assets indicated varying percentages in their compositions of the total crypto exposures. SOL and ADA represent 1% each, DOT constitutes 2%, while LTC and XLM made 0.4% each of the total crypto exposure.

Also, the banks’ exposure includes smaller percentages of stablecoins and tokenized assets.

In summary, the report revealed that XRP,  Bitcoin, and Ethereum comprise almost 90% of the banks’ total crypto exposure.

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