The Crypto Maturity Journey explores five typical levels of cryptocurrency adoption for FIs:
■Level 0: Education, strategy, and planning
Designate team of crypto stakeholders
Learn about the crypto landscape
Analyze current crypto exposure and associated risk
■Level 1: Open for business
Allow retail banking customers to send funds to crypto businesses
Business banking services for crypto businesses
Investment banking, FX, and global settlement services for crypto businesses
■Level 2: Synthetic cryptocurrency products
Investment vehicles like Grayscale Bitcoin Trust
Crypto ETFs
■Level 3: Enable crypto deposits
Establish infrastructure for crypto deposits and custody
Equip yourself for crypto transaction risk monitoring
■Level 4: Beyond deposits
Crypto payments services for merchants
Crypto rewards credit cards
Connect to DeFi ecosystem