American bankers association encourages partnerships with crypto firms in new report

The American Bankers’ Association (ABA) has issued a new report that suggests banks consider partnerships with crypto firms based on the increased profitability of the sector and client interest. The report is 20 pages in length and provides a high-level overview of crypto with a glossary, maps crypto business activities to bank products and services. The ABA further suggests crypto use cases for banks with revenue models and regulatory issues for each use case.

The report classifies crypto assets into four categories: cryptocurrencies, Stablecoins, central bank digital currencies, and non-fungible tokens. Decentralized Finance (DeFi) is also mentioned as well.

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