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38 minutes ago
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Ripple: Banks Have Invested Over $100 Billion in Blockchain Infrastructure Since 2020
Traditional banks have invested more than $100 billion in blockchain since 2020, according to a recent Ripple-backed report claiming digital assets are going mainstream. That figure comes from 'Banking on Digital Assets,' a joint study by Ripple, CB Insights and the UK Centre for Blockchain Technologies (UK CBT), which analyzed more than 10,000 blockchain deals and surveyed over 1,800 global finance leaders. According to the findings, major banks are ramping up investments in custody, tokenization, and payment infrastructure — despite regulatory uncertainty and market volatility. The report estimates that more than $100 billion has been invested in blockchain and digital asset initiatives globally between 2020 and 2024. It also found that 90% of surveyed finance leaders believe these technologies will have a significant or massive impact on finance within the next three years. From 2020 through 2024, traditional financial institutions participated in 345 blockchain deals globally, the report says. Payment-related infrastructure drew the largest share, followed by crypto custody, tokenization and on-chain foreign exchange. Roughly 25% of investments focused on infrastructure providers powering blockchain settlement and asset issuance rails. More than 90% of finance executives surveyed by Ripple believe blockchain and digital assets will have either a 'significant' or 'massive' impact on finance by 2028. Among bank respondents, 65% said they are actively exploring digital asset custody, with more than half citing stablecoins and tokenized real-world assets as top priorities. Examples cited include HSBC's tokenized gold platform, Goldman Sachs' blockchain settlement tool GS DAP, and SBI's work on quantum-resistant digital currency. Still, most respondents say consumer-facing digital assets are not the immediate focus — less than 20% of banks reported offering crypto trading or retail wallets. The report frames the shift as more infrastructural than speculative. Institutions are largely investing in blockchain to modernize cross-border payments, streamline balance sheet management, and reduce reliance on legacy rails. Ripple, which provides enterprise-grade blockchain solutions for banks, positioned the findings as evidence that 'real-world asset tokenization is entering the implementation phase.' Even as regulatory clarity lags in many jurisdictions, more than two-thirds of surveyed banks say they expect to launch a digital asset initiative within the next three years. Those efforts may range from piloting tokenized bonds to building interoperable settlement layers for CBDCs and private stablecoins. Despite recent setbacks in crypto markets, Ripple's report argues that capital formation is accelerating, not retreating. It notes that blockchain investment from traditional finance hit a post-FTX high in Q1 2024, and that emerging markets — including the UAE, India and Singapore—are driving adoption faster than the U.S. and Europe. For blockchain firms and infrastructure providers, the message is clear: the next wave of institutional adoption won't hinge on hype cycles or retail mania, but on quietly transforming the pipes of global finance.
Yahoo
an hour ago
- Yahoo
FCA considering compensation scheme over car finance scandal - raising hopes of payouts for motorists
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Yahoo
an hour ago
- Yahoo
US car market bankrupting Americans — and it'll only get worse. How to save thousands if you want to buy a car
Moneywise and Yahoo Finance LLC may earn commission or revenue through links in the content below. We adhere to strict standards of editorial integrity to help you make decisions with confidence. Some or all links contained within this article are paid links. The U.S. car market faces a perfect storm that is rapidly engulfing ordinary car owners across the country. The clearest warning sign is the rising rate of auto loan borrowers who are falling behind on their monthly payments. As of January this year, 6.6% of subprime auto borrowers were at least 60 days past due on their loans, according to a report by Fitch Ratings. Don't miss Thanks to Jeff Bezos, you can now become a landlord for as little as $100 — and no, you don't have to deal with tenants or fix freezers. Here's how I'm 49 years old and have nothing saved for retirement — what should I do? Don't panic. Here are 5 of the easiest ways you can catch up (and fast) Want an extra $1,300,000 when you retire? Dave Ramsey says this 7-step plan 'works every single time' to kill debt, get rich in America — and that 'anyone' can do it Switch Auto Insurance and Save Today! Affordable Auto Insurance, Customized for You The Insurance Savings You Expect Great Rates and Award-Winning Service This is the highest rate since Fitch started collecting this data in the early 1990s. And things are not expected to get better. The report says the subprime segment of the auto loan market faces a 'deteriorating outlook' for the rest of 2025. This is especially alarming given the scale of the auto loan market. As of the first quarter of 2025, households carried $1.64 trillion in auto loan debt — surpassing both the $1.18 trillion in credit card debt and the $1.63 trillion in student loan debt, according to Here's how cars transformed from symbols of freedom to symbols of unsustainable, toxic debt. How did we get here? The foundation of today's crisis was laid five years ago during the pandemic. Supply chain disruptions and factory closures created strange dynamics that pushed car prices higher. In January 2022, 80% of new car buyers paid more than the manufacturer's suggested retail price, or MSRP, according to Edmunds. Used car prices were rising faster than new car prices at the time, according to Cox Automotive. In other words, car buyers paid too much for their cars. Now, values have declined while many owners have seen a steady rise in interest rates. This shift has pushed many car owners underwater on their purchase. In fact, one-in-five vehicle trade-ins near the end of last year had negative equity of $10,000 or more, according to Edmunds. The situation is grim, and the outlook is just as bleak. Read more: BlackRock CEO Larry Fink has an important message for the next wave of American retirees — What comes next? While the auto market is dealing with rising interest rates and dropping prices, it's now also facing the additional challenge of President Donald Trump's trade war. About half of U.S. car purchases in 2024 are imports, with many domestic makers relying on foreign parts. The recent 25% tariffs on imported cars could add $6,000 to manufacturing costs for vehicles under $40,000. With consumers already strained, manufacturers can't easily pass these costs on and are cutting expenses and jobs. GM and Stellantis have laid off hundreds, and Ford recently cut 350 software jobs, citing efficiency needs. Buyers should prepare for a tough market ahead. Protect yourself If you're looking to buy a new car in this market, it's probably better to do so before the tariff impact trickles down to the price tag, according to Kelley Blue Book. However, given where interest rates and prices currently are, try to stick to a tight budget while shopping. Buying a relatively cheap used car or leasing one if you can find a good deal is probably a good idea. If you're a car owner struggling with auto loan debt, consider trading it in for a cheaper model to reduce the burden. If you own multiple cars, it might also be a good time to sell one to reduce your loan exposure. Refinancing or finding a better auto loan rate is worth considering, too. Over one-in-four Americans owe more on their car loans than the vehicles are worth, according to the Washington Post. Securing a good refinancing deal now can protect you from future market ups and downs. You can compare auto loan refinance rates offered by lenders near you through LendingTree. Here's how it works: Just answer a few simple questions about yourself and the vehicle you drive — and LendingTree will connect you with two to five lenders from their network of more than 300 lenders. You may be eligible for refinance loans starting at 3.50% APR, through LendingTree's network. The best part? The process is completely free and won't hurt your credit score. It's also important to remember that as car prices increase, insurance premiums typically rise as well. According to ValuePenguin, car insurance rates went up by an average of 16.5% in 2024. Comparing quotes is a smart way to save money on your insurance. lets you compare quotes from trusted brands, including Progressive, Allstate and GEICO, to make sure you're getting the best deal. You can find plans starting as low as $29 per month. What to read next Robert Kiyosaki warns of a 'Greater Depression' coming to the US — with millions of Americans going poor. But he says these 2 'easy-money' assets will bring in 'great wealth'. How to get in now Here are 5 simple ways to grow rich with real estate if you don't want to play landlord. And you can even start with as little as $10 Rich, young Americans are ditching the stormy stock market — here are the alternative assets they're banking on instead Here are 5 'must have' items that Americans (almost) always overpay for — and very quickly regret. How many are hurting you? Stay in the know. Join 200,000+ readers and get the best of Moneywise sent straight to your inbox every week for free. This article provides information only and should not be construed as advice. It is provided without warranty of any kind. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
