54% said they will use the custodial services from the traditional banks

More than half of digital asset users said they would use crypto custodial services from traditional banks upon its availability.

A recent survey of 2,894 Dove Wallet users worldwide asked “if they would be interested in using the crypto custodial services from traditional banks upon its availability,” 54% said they would use it. Among them, 38% of respondents took a very enthusiastic interest; they would use the services as much as they could, while 16% said they would use them selectively. On the other hand, 20% said they would not use them, while 26% said they had no idea yet.

Country-specific results revealed little difference; they seem to support traditional banks’ inroads into the crypto custodial services market. For example, 60% of S. Korean users said they were willing to use them upon their availability. However, it is also interesting to see that users from the U.S., the leading digital asset market globally, are not particularly enthusiastic about traditional banks’ entry into the services; 27% said they would not use them, showed relatively low confidence in the use of traditional banking services.

It seems traditional banks to be picking up steam since the news of OCC’s ruling on nationally chartered banks’ custodial services about digital assets last year. New York Mellon Bank, one of the oldest custodial banks in US, has recently announced the launch of a digital asset custodial services, and Deutsche Bank, a global leading investment bank, also revealed its plan to enter the crypto custodial business, according to WEF report.