Banks Expected to Expand Bitcoin Services Over Next Year
Phong Le predicts the next 12 months will bring a major expansion of Bitcoin-related services at banks, driven by inflation, clearer rules, and customer demand. A third-quarter index showed 34% engagement among the top 30 global banks, with U.S. institutions such as Fidelity and JPMorgan leading. European and Asian banks are moving more cautiously, while Le also said AI could push investors toward scarce assets like Bitcoin.
Phong Le, identified as a chief strategy officer, expects the coming year to bring a notable wave of Bitcoin-related banking offerings. He points to inflation, improved regulatory clarity, and customer requests as forces pushing institutions beyond earlier hesitation. Revenue lines include custody, spot fund trading, and loans backed by Bitcoin.
A third-quarter 2026 gauge of the 30 largest global banks found a 34% engagement level. U.S. firms led: Fidelity at 77%, JPMorgan Chase at 47%, BNY at 46%, and Goldman Sachs and Morgan Stanley each at 45%. European and Asian peers moved more selectively, including Barclays at 30%, Deutsche Bank at 27%, and MUFG at 18%.
If banks expand Bitcoin services, customers and investors may get more regulated ways to hold or borrow against it, while banks' employees could see compliance and custody roles grow. Inflation worries and AI-driven interest in scarce assets may shape demand. European and Asian markets could follow at different speeds, affecting global access unevenly.