America’s top financial institutions are edging deeper into digital assets, with more than half of the 25 largest banks now testing or preparing crypto-related services.
Data from River reveals a noticeable migration from “no plans” to pilot programs, custody arrangements, and selective trading access.
In recent months, big names have taken decisive steps. Morgan Stanley is crafting guidelines that could allow brokers to actively recommend Bitcoin ETFs, while Charles Schwab is building tools for clients to trade BTC and ETH directly. PNC has already integrated Coinbase into its platform, enabling account holders to buy and sell crypto without leaving the bank’s ecosystem.
Behind the scenes, infrastructure work is accelerating. State Street is exploring stablecoins and tokenized deposits to speed settlement, BNY Mellon is safeguarding reserves for Ripple’s RLUSD, and Citi is experimenting with tokenization on Solana. JPMorgan, meanwhile, is piloting instant dollar transfers through a tokenized deposit system and giving customers direct Coinbase access — even as its CEO continues to criticize the sector.
For now, many of these offerings remain gated for high-net-worth or advisory clients. But the direction is unmistakable: Wall Street’s biggest players are quietly laying the foundations for large-scale crypto adoption, ensuring they’re ready when demand goes mainstream.
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Source: https://coindoo.com/major-us-banks-quietly-gear-up-for-crypto-expansion/