20 July 2026
Banks Must Embrace Crypto As Future Belongs To It: Survey Report
A recent survey conducted by Deloitte, the multinational professional service provider, revealed that digital assets would be an integral part of the future monetary system.
The study disclosed that 73% of senior executives at financial institutions fear their companies might fall behind in terms of development if they fail to adopt virtual currencies and blockchain technology. 76% believe that digital assets might replace fiat money in the upcoming 5 – 10 years.
The Deloitte survey concluded that among 1,000 bank leaders and executives of financial institutions based in the UK, the USA, Germany, Brazil, Hong Kong, Japan, South Africa, UAE, Singapore, and China. The goal was to find out if these top managers see the future entwined with crypto.
Most of the respondents, with 80%, replied that in the two years, digital assets would play an essential role in the financial industry. 73% of the executives believe that blockchain adoption is important if an organization wishes to be competitive in the future industry. Meanwhile, 76% affirm that virtual assets would replace fiat currencies in the coming 5 to 10 years. They even forecasted that the end of physical money is near.
Commenting on the results Linda Pawczuk, the U.S. blockchain and digital assets leader at Deloitte, stated, “In the last year, we’ve seen a significant shift in how the global financial ecosystem is thinking about new business models fueled by digital assets, and how this is playing a meaningful role in financial infrastructure.”
Adding more, Pawczuk affirmed, the foundation of banking has been “fundamentally outlived,” and financial executives must find other ways to create “economic growth in the future of money.” Besides, 43% of respondents polled that their institutions must adopt crypto as a payment option. Among several elderly executives, this figure stands higher with 63%.
According to the survey, every sixth person termed that regulatory barriers were the biggest obstacle for wider digital asset acceptance. Simultaneously, 71% of respondents fear that cybersecurity in the crypto space needs improvement.
Disclaimer: The author’s views and opinions are for informational purposes only and do not constitute financial, investment, or other advice.
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