A recently published study by the Basil Committee on Banking Supervision (BCBS) has revealed that the world’s top banks have exposure to around $9 billion worth of cryptocurrencies, including Polkadot ($DOT), Cardano ($ADA), and $XRP.
According to the study, titled “Basil II Monitoring report” from the Bank of International Settlements (BIS), the two largest cryptocurrencies by market capitalization, Bitcoin ($BTC) and Ethereum ($ETH) are the ones banks are most exposed to, with the flagship cryptocurrency making up 31% of the reported crypto exposure, and ETH making up 22% of it.
BTC and ETH combined notably make up “almost 90% of reported exposures,” while other popular cryptocurrencies were also included in the report. Polkadot ($DOT) made up 2% of reported exposure, while $XRP made up around the same percentage. Cardano’s $ADA token made up 1% of exposure, as did Solana ($SOL).
Other cryptocurrencies in the report were Litecoin ($LTC) with 0.4% of reported exposure, and Stellar ($XLM), with around 0.4% of exposure as well.
The study detailed that total cryptocurrency exposures from banks made up around €9.4 billion, equivalent to roughly $9.2 billion. This means that cryptoasset exposure “m
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