“Once regulations make it clear, banks will jump in hard on crypto transactions,”
said Bank of America CEO Brian Moynihan in an interview at the World Economic Forum in Davos, Switzerland, an annual event where corporate leaders and policymakers gather to discuss global economic issues and emerging trends.
Moynihan signaled a strong shift toward crypto adoption in the banking sector just a day after President Trump’s inauguration, emphasizing that with the right regulatory framework, banks would eagerly embrace cryptocurrency payments, integrating them alongside existing systems like Visa and Apple Pay. Bank of America is ready to jump in, he said, with hundreds of blockchain patents and a strong plan to dive into the world of digital finance as it keeps evolving.
Regulation is key, but it’s not the whole story – banks need solid infrastructure, too, and the truth is, blockchain infrastructure isn’t fully prepared to handle the shift to traditional finance (TradFi) integration on its own. That’s exactly what new-generation blockchain platforms like Graphite Network are bringing to the table.
Crypto Daily, which previously spoke to Marko Ratkovic, CTO at Graphite Network, reached out to him again for his thoughts on Bank of America CEO’s recent comments.
“Graphite Network, with its bank-compliant infrastructure and projects like the Bank Integration Demo, is ready to drive this shift forward,” says Ratkovic. “Our blockchain is designed to help traditional financial institutions connect to the Web3 world, giving them the tools to enhance their services with greater stability, scalability, and security.”
The Bank Integration Demo is an initiative focused on enabling smooth bank integration, setting up the infrastructure, establishing partnerships and communication with financial institutions, and onboarding them into the blockchain ecosystem. The demo version acts as a proof of concept, showcasing how everything works before full-scale deployment.
Essentially, it’s Graphite Network’s way of laying the groundwork for integratin
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Author: Adrian Barkley
