Consulting firm Bain & Company believes banks are at risk of missing out on the adoption of digital currencies – and the revenue that might come with it.
The Boston-based firm has published research that argues financial firms are effectively holding themselves back amid an environment of regulatory and technological uncertainty.
The consultancy's report specifically targets international payments, stating most banks are "not prepared" to retain control of this service.
That said, Bain indicated that it believes at least some banks will successfully capitalize on the technology.
Bain & Co partner and report co-author David Gunn said:
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.