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RE: LeoThread 2024-12-31 17:40

in LeoFinance8 days ago

As crypto payment rails start to penetrate traditional finance, I think deposits will largely evaporate from banks into crypto. To make up for the loss, I can see banks becoming more service-oriented and making profit from transaction fees. Given the increased transaction velocity resulting from crypto, it is likely that this will largely offset the loss of deposits. Alternatively, banks can opt to become gateways, local branches, to our crypto wallets.

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Banks already offer safety deposit boxes; they could expand on this service. Since they're going to 5¢-&-10¢ their customers regardless of the climate, they may as well make their customers feel good by getting into the collectibles market.

But, they will have to get on the ball because you can already deposit cash and checks at crypto ATMs and to PayPal at retail locations.