American banks are encouraged to more actively develop the cryptocurrency market
Date: 2025-06-03 Author: Henry Casey Categories: BUSINESS
Speaking at the Digital Banking Conference, Anchorage CEO Nathan McCauley urged representatives of the traditional banking sector to reconsider their attitude to digital assets and not to miss out on the opportunities that the crypto market offers.
McCauley recalled that, unlike traditional banks, whose activities are limited to working hours and do not take place on weekends, cryptocurrency platforms operate around the clock and without breaks. This, according to him, creates not only flexibility for users, but also the potential for increasing banks' income if they begin to provide services related to digital assets.
One of the options he proposed is lending secured by cryptocurrencies. The head of Anchorage noted that despite the volatility of digital assets, risks can be offset by increasing collateral requirements. This approach will allow banks to control risks and at the same time take advantage of new financial instruments.
He also drew the audience's attention to the fact that the current situation is especially favorable for the integration of American banks into the digital currency sphere. According to him, the current policy of the US administration is favorable to the development of stablecoins - digital assets whose rate is tied to fiat currencies, such as the US dollar. This creates opportunities for banks not only to use existing stablecoins, but also to develop their own analogues built into existing financial services, including customer deposits.
However, McCauley noted, such a transformation will require a major restructuring of the internal infrastructure of banks, as well as close cooperation with technology partners and banking platforms.
His speech came against the backdrop of statements by Christopher Waller, a member of the board of governors of the US Federal Reserve System, who had previously proposed developing a legal basis for banks to issue stablecoins tied to the dollar. This also indicates that regulators are beginning to realize the importance and necessity of the presence of traditional financial institutions in the crypto space.
Thus, Anchorage and its CEO are trying to push banks to actively develop new financial instruments that could become an important part of banking services in the near future.
