In my latest video, I dived into a game-changing prediction for the financial services industry in 2024.
Forget the typical ‘Top 10 predictions’ – I’ve got my eye on one transformational shift: the digitisation of the deposit business.
- Central banks are pushing commercial banks to tokenise their deposit accounts, setting the stage for a significant industry transformation.
- Silicon Valley Bank’s evolution highlights the shift.
- Some surprising players, particularly in Africa, are at the forefront of experimenting with tokenising deposit accounts.
- Users are blurring the lines between bank tokens and crypto, posing challenges for traditional banks.
- Instead of price wars, I suggest a pivot to digitise deposits for a competitive edge.
Stay tuned for more insights, and don’t forget to like and subscribe if you find this topic as fascinating as I do. Central banks are pushing commercial banks to tokenize their deposit accounts, setting the stage for a significant industry transformation.