RBC Capital Markets surveyed 18 European banks and found HSBC and Deutsche Bank — both with 10%+ of group revenues in corporate payments — most exposed to losing customers as businesses shift to crypto rails. Highly exposed lenders could see up to a 7% revenue hit, with 72% of surveyed banks calling cross-border payments the near-term wedge. Despite this, 83% still don't treat digital assets as core offerings and 67% report limited stablecoin demand, though Deutsche Bank, Barclays, and BNP Paribas have quietly joined bank-led stablecoin initiatives.

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