Leveraging Crypto Trading for Long-term Security
Author: Naomi GonzalesCryptocurrency has emerged as one of the most lucrative investments of this year, with price booms and increasingly widespread liquidity. Clients in the market are also seeking out further avenues with which to access and trade, including cryptocurrency. Banks such as First Republic Bank may find success in tapping into this ever-growing market, as such solutions may lower costs, modernize offerings, and encourage customer retention.
Legacy banks cannot ignore the success of cryptocurrency any longer. In order to remain competitive and profitable, modern banks must move quickly to adopt DeFi and crypto, as many challenger banks and neobanks have already done. First Republic Bank must look to rival platforms such as SoFi, N26, Juno, and Robinhood for inspiration, to diversify their balance sheet and revive their operations. Crypto trading could be an effective way to return to profitability, and bolster their long-term security.