For what purpose do banks create their own cryptocurrencies?

[Ub40]

Even though I am trying to match your content with the thread title, so far I have never heard before of any bank that has created their own crypto currency except for the CBN that recently created an e-naira currency and just as someone already mentioned above, it is owned by the government and not by any bank even though CBN created it.

 

[Grant]

I can't say I heard of any banks currently making their own crypto, but I am curious to know if this is true. I suspect that banks will start to allow cryptocurrency in their banks, but idk if they will enact their own cryptocurrency to compete. It's not like banks create currency, they just protect it. It would be far from reality to offer a banking system for crypto, but I can't see banks making their own currencies.

 

[Immilash]

I don't think it's important for Banks to create their own cryotocurrencies. Cryotocurrency is medium of exchange just like money,what differentiate it with money is that cryotocurrency is not a physical cash but a digital cash.

 

[greenie]

It has not really been communicated on any media outlets that banks are now building their own crypto currency. However, I will make more research about this to ascertain it's authenticity.

 

[Sotherefore]

Well I don't really see the needs for bank to create their own cryptocurrency because they have responsibilities to take care of, anyway I have never seen a bank creating in their own cryptocurrency over here before but even if they do I don't really see the need for it.

 

[Kaffyfolla]

Banks have their own cryptocurrencies as away of diversifying their market base.

 

[HayKay]

I also think it's to ensure that transaction can be processes smoothly as well and not to entirely lose out Because let's face it - a lot of people are preferring to hold their monies in crpyto and other digital assets forms.

 

[Ononivami]

This is the first time that I will hear a thing of such . Banks creating its own cryptocurrency is very strange to me. I know that many banks are integrating crypto related services on their platforms.

 

[Josephjossy]

In my own country, the government banned banks to be dealing on anything about trading or investing on crypto, I don't know if some banks own there own crypto or not

 

[Syldan]

I always believe there are several reasons why people create different things which I believe there most be a purpose for that creation but actually for now I don't know of any bank that had created it's own coin yet.
Actually banks has so many reasons why they created their own cryptocurrency and one of the most reason is for profit making because I believe the essence of cryptocurrency creation is for profit maximization.

 

[Shigobad2020]

In my own country, the government banned banks to be dealing on anything about trading or investing on crypto, I don't know if some banks own there own crypto or not

It's the Same thing here , the government of my country has put a ban on the use of crypto currency uses which means no bank in my country can deal with crypto currency coin.

 

[James]

Their are not many banks do it but they want to have it because it will give them an opportunity to generate revenue as they can reinvest somewhere and also nobody wants to miss out in digital currency which is also one of reason.

 

[Sotherefore]

Most banks that are trying to create their own digital currency are doing it to facilitate easier transaction , while some banks are doing it for personal interests like generation of revenue or for easier account-keeping.