A new survey commissioned by Uphold, an on-chain finance infrastructure provider, reveals that 75% of American banks have blockchain finance programs in various stages of development. Of these, 22% have projects that are live or scaling, while 53% are piloting or actively evaluating specific use cases.
The research, conducted by American Banker among 114 qualified respondents from banks, credit unions, and neobanks, indicates that the buying phase for digital asset infrastructure has begun. Two-thirds of banks have allocated funds for digital asset services, and 54% have issued requests for proposals (RFPs) to potential vendors and partners.
Key Use Cases and Strategic Focus
Among the most important blockchain services identified by respondents are digital wallets and custody solutions (72%), digital asset buy/sell/hold for wealth management (70%), digital wallet-led international expansion (65%), stablecoin rails for institutional settlement (64%), and prime brokerage and institutional-grade clearing (64%).
Banks are designing these services for a broad customer base: 65% of institutions with live, pilot, or evaluation initiatives are targeting commercial customers, 52% are building for retail customers, and 47% for wealth management.
Adoption Drivers and Barriers
The survey also found that 72% of institutions have appointed an executive accountable for digital asset or blockchain strategy, and 68% confirmed having the necessary in-house regulatory and compliance capabilities. However, the industry acknowledges significant hurdles, with cybersecurity concerns (47%), risk management and operational risk concerns (47%), and regulatory uncertainty and compliance requirements (46%) cited as the top barriers to progress.
Simon McLoughlin, Uphold's CEO, noted that blockchain enables cheaper, faster, and better financial services that digital-native customers expect. He emphasized that despite the failure of the Clarity Act to establish a comprehensive legal framework, the SEC and CFTC have moved to fill the regulatory gap, smoothing the path for adoption. "The direction seems clear and irreversible: finance is moving on-chain," he said.
The survey spanned institutions of all sizes, with more than half (53%) reporting over $50 billion in assets under management. Two-thirds of respondents see a shared upside in blockchain-powered services, believing both banks and their customers will benefit.
This momentum suggests that blockchain adoption in the US banking sector is accelerating, even as regulatory frameworks continue to evolve. The findings indicate a broad commitment to integrating digital asset services across the industry.
This article is for informational purposes only and does not constitute financial advice.
