Key takeaways
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US banks are prioritizing tokenized versions of familiar products, including deposits, funds and custody, rather than launching new crypto-native assets.
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Most onchain bank activity is taking place in wholesale payments, settlement and infrastructure, largely out of public view.
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Regulators are increasingly allowing crypto-related banking activities, but only within tightly supervised and risk-managed frameworks.
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Public blockchains such as Ethereum are being tested by major banks, but exclusively through controlled and compliant product…
