- BCBS report reveals XRP holds 2% of the total €9.4 billion crypto exposure in banking.
- XRP emerges as a significant crypto asset in banks’ portfolios, according to BCBS data.
- John Deaton advises investing in XRP before market FOMO sets in, citing strong potential.
Ripple’s XRP has been identified as a preferred investment by some of the world’s leading banks, according to a recent report by the Basel Committee on Banking Supervision (BCBS).Read CRYPTONEWSLAND on google news
This principal global standard-setter for bank regulation has released a comprehensive dataset focusing on banks’ engagement with crypto-assets, revealing XRP’s significant role in the sector.
Originating from a cryptoasset data collection template introduced in 2018, the BCBS’s findings provide an in-depth look into the crypto holdings of banks, offering insight into their exposures. Data collected from nine banks in the Americas, seven in Europe, and two from other regions contributed to this groundbreaking report.
XRP, recognized as the third-largest altcoin, accounts for a notable 2% of the total €9.4 billion exposure in the banking sector, equivalent to approximately €188 million ($205 million). Amidst the growing anticipation for Bitcoin ETF approvals, Ripple’s XRP has cemented its position as a robust and appealing investment option.
John Deaton, a pro-XRP attorney and founder of CryptoLaw, has cautioned investors against making decisions based on the fear of missing out (FOMO). He advocates for investing in cryptocurrencies like XRP before such market sentiments intensify, highlighting XRP’s historical price movements around key events.
The future of XRP in the cryptocurrency industry appears bright, especially with its increasing recognition as a viable investment by major banks globally. This acknowledgment by the BCBS underscores XRP’s potential for growth and stability in the ever-evolving digital finance landscape.
Read also:disclaimer read more
Crypto News Land (cryptonewsland.com) , also abbreviated as “CNL”, is an independent media entity — we are not affiliated with any company in the blockchain and cryptocurrency industry. We aim to provide fresh and relevant content that will help build up the crypto space since we believe in its potential to impact the world for the better. All of our news sources are credible and accurate as we know it, although we do not make any warranty as to the validity of their statements as well as their motive behind it. While we make sure to double-check the veracity of information from our sources, we do not make any assurances as to the timeliness and completeness of any information in our website as provided by our sources. Moreover, we disclaim any information on our website as investment or financial advice. We encourage all visitors to do your own research and consult with an expert in the relevant subject before making any investment or trading decision.