Banks are at different stages of integrating blockchain and digital assets into their operations. While some are already offering services related to digital assets, many are navigating the complexities with caution. The question arises: Which way to go after a significant exploration of blockchain technology?
A prominent challenge for banks is the current regulatory landscape. Many regions have yet to establish clear regulations regarding digital assets, leading to hesitancy due to potential legal implications. However, there have been several significant developments in the banking sector. In February 2023, a leading German industrial company ventured into the digital asset realm by issuing a crypto security under the Electronic Securities Act (eWpG), raising €60 million on the public blockchain Polygon. This landmark transaction was facilitated by a private bank, which served as the registrar and paying agent. A few months later, a major German bank sought regulatory approval to offer crypto custody services, signaling an intent to provide secure storage solutions for digital assets. Another development was the initiative by a large French bank to work on a euro-pegged stablecoin, combining the attributes of a traditional currency with the benefits of a digital asset.
Given this backdrop, it is evident that the potential for blockchain technology in reshaping banking offerings is manifold, leaving open the question: What are promising directions?
We invite you to a detailed discussion about current projects, significant challenges, and market demands faced by banks, addressing the following questions:
Should banks focus more on taking an active role in issuing, managing, and trading digital securities?
Should banks integrate crypto custody solutions for their clients? If so, what are the crucial infrastructural and security challenges they must resolve?
With the MiCA regulations scheduled to come into full effect by the end of 2024, what strategic pathways can banks carve out in their adoption of blockchain and crypto assets? Do the MiCA rules present any unique opportunities for banks to standardize and enhance their digital asset offerings?
Should banks engage in or integrate stablecoins into their operations?
Given the upcoming introduction of Bitcoin ETFs and the adoption of other Bitcoin services by some banks, should other banks follow suit?
Should banks increase their efforts to educate clients about the risks and potential rewards of various crypto assets? What role, if any, should banks play in crypto asset education and advisory?
During this online session, participants can directly pose questions to our panel of experts.
Prof. Dr. Philipp Sandner, Frankfurt School Blockchain Center (Moderator)
Sascha Dölker, dwpbank
Benjamin Schaub, intas tech
Roberto Pagliari, Commerzbank
Robert Richter, Zanders
Thomas Pecha, Metaco
Who should participate:
Employees and decision-makers from the banking sector interested in blockchain technology
Innovators looking to get involved with digital currencies and decentralized finance
Startup founders and startup enthusiasts interested in blockchain technology
Researchers and scholars wanting to gain insight into blockchain-based investment opportunities
Other groups of people with an interest in capital markets, crypto assets, and technology