Progress Towards Mainstreaming Crypto

Banks do not consider crypto assets when assessing risk or ability of a potential borrower to repay loans. Crypto is regarded to have zero value. Banks certainly do not take mortgages over crypto as collateral when lending – until now.

Massive US crypto exchange Coinbase just got a loan in US$ from Goldman Sachs and the loan is backed by Bitcoin owned by Coinbase.

Another step in the process of mainstreaming crypto. The reality is that there are a large number of crypto businesses that are of a significant size and they need traditional banking support – and the traditional bankers are always looking for new high value customers.

One day banks will take NFTs as collateral. Will be fascinating seeing a bank enforcing a charge against a bored ape.

Might be a while before this gets to retail banking but it will. Digital assets are here to stay.

To hear about crypto and NFTs hitting the mainstream markets, please listen to my webinar series (soon to be podcast) Web3: From Mystery to Mainstreet.

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