Boston Consulting Group announced research on October 22, 2026, arguing that banks’ custody choices shape the digital asset services they can offer. Ripple, which sells custody infrastructure, commissioned the study. BCG estimates that more than 30% of digital assets outside centralized exchanges are held through institutional custody models, a category that includes enterprise self-custody and wallet-as-a-service—not just third-party custodians.
BCG’s illustrative analysis suggests that a regional bank with $200 billion to $300 billion in assets could generate $80 million to $100 million in profit-and-loss upside across five digital asset use cases. That is a modeled opportunity, not reported earnings or a forecast for every comparable bank.
