Over $100B Poured Into Blockchain by Banks Since 2020

While crypto headlines often focus on memecoins and market volatility, a quieter but more powerful shift is happening beneath the surface: traditional banks are going all-in on blockchain infrastructure.

• $100B+ invested by traditional financial institutions between 2020–2024
• 345 blockchain-related deals involving major banks like HSBC, Goldman Sachs, and SBI
• Investments focused on payments, tokenization, custody, and settlement layers
• 90% of surveyed finance leaders expect a major blockchain impact by 2028
• Banks are prioritizing real-world asset (RWA) tokenization, stablecoins, and custody, not retail crypto offerings

A new report titled Banking on Digital Assets, conducted by Ripple, CB Insights, and the UK Centre for Blockchain Technologies, revealed how deeply integrated blockchain has become in global finance.

Drawing data from more than 10,000 deals and insights from 1,800 finance leaders, the study shows that the world’s biggest financial institutions are investing not in speculative assets but in infrastructure that powers cross-border payments, custody services, asset tokenization, and settlement.

Since 2020, 345 blockchain-related deals have involved banks like HSBC, Goldman Sachs, and SBI. Payment infrastructure took the lion’s share of funding, but tokenization and digital custody were not far behind.

These investments aren’t about retail wallets or trading apps; they’re about rebuilding the plumbing of global finance.

HSBC, for instance, has launched a tokenized gold platform that lets investors gain exposure to physical gold through blockchain. Goldman Sachs built GS DAP, a settlement tool using distributed ledger tech. Meanwhile, SBI is exploring quantum-resistant digital currency protocols for future-proofing secure transfers.

What’s striking is the level of conviction.

Over 90% of financial leaders surveyed believe blockchain and digital assets will have a “significant” or “massive” impact on finance by 2028. Around two-thirds of banks expect to launch a blockchain or digital asset initiative within the next three years, with pilots ranging from tokenized bonds to settlement layers for CBDCs and private stablecoins.

This shift is global. Emerging markets like India, Singapore, and the UAE are accelerating adoption faster than Western markets, thanks to clearer regulatory frameworks and proactive policymaking.

Even post-FTX, investment from traditional finance in blockchain hit a new high in Q1 2024.

The message: institutional interest isn’t retreating, it’s maturing.

Final thought

For Web3 investors and builders, the takeaway is clear. The next growth wave isn’t coming from speculation; it’s coming from institutions quietly retooling the financial system. The money is moving into tokenization rails, custody platforms, and interoperable blockchain layers.

Web3 teams that align with these trends, not just the hype cycles, stand to benefit the most. Because while retail markets may ebb and flow, the long-term capital is already picking sides.