The world’s banking industry is ever-evolving, with new trends and disruptive opportunities emerging every year. In 2020, the global pandemic gave rise to a large shift in consumer behavior in almost every industry. For banking, like many others, this was a shift to online or digital operations, as in-person service was inevitably no longer viable. Though the banking sector retains a great deal of influence in the digital space, e-solutions such as CashApp and Wirex are increasingly prominent, as well as crypto-native exchanges, protocols and apps.
Cryptocurrency is the hot topic on everyone’s lips, which is no surprise given Bitcoin’s market cap high of $1 trillion dollars this past year – higher than that of any bank in the world. This was aided by MasterCard and PayPal announcing that they would begin to welcome Bitcoin, Ethereum and Litecoin on its networks. According to Ronit Ghoti of Citi, in their latest Future of Money report, “money is entering a format