Bitwise has identified major global banks with some of the broadest cryptocurrency exposure, naming BNY Mellon and JPMorgan among the most active. As large institutions deepen their involvement in custody, payments, and tokenization, the ties between digital assets and traditional finance are tightening—raising potential systemic risk considerations.
Major banks named for broad crypto exposure
BNY Mellon, a leading global custodian, has introduced digital asset custody services for select institutional clients and supports integrated reporting across traditional and crypto holdings. JPMorgan has developed its Onyx blockchain platform, launched JPM Coin for wholesale payments, and piloted tokenized collateral and repo applications for institutions. According to Bitwise’s ranking, these initiatives place both firms among banks with significant touchpoints across the crypto ecosystem.
Why deeper integration matters
As banks scale services such as custody, settlement, and tokenization, operational and market linkages between crypto and traditional finance can increase. Greater exposure may heighten the risk that price shocks, liquidity stress, or operational failures in digital asset markets transmit into broader financial markets—particularly where banks provide critical infrastructure or financing to crypto-related activities.
Regulatory backdrop
Supervisors in the United States and internationally continue to refine guidance on banks’ digital asset activities, emphasizing capital treatment, liquidity management, and operational resilience. Policymakers are also evaluating how stablecoins, tokenized deposits, and blockchain-based settlement interact with existing payments and securities frameworks as banks expand pilots and limited production use cases.
Outlook
Bitwise’s ranking underscores the need for clearer, standardized disclosure of banks’ direct and indirect crypto exposures. Further transparency from large institutions—alongside evolving regulatory guidance—will shape how quickly and safely digital assets integrate with global financial markets.