Every American Bank is Coming Into Crypto: Here’s Why

Every American Bank is Coming Into Crypto: Here’s Why

Circle International Group and Tether Limited are two of the largest financial firms on the planet. I’d wager 99% of the world’s population has never heard of them.

They don’t have the name recognition of Bank of America or the renown of Barclays. But collectively, they’re worth more than both.

Way more…

The Bank of America franchise traces its origins back to 1784, when Massachusetts Bank became the first federally chartered joint-stock owned bank in the United States. And Barclays traces its origins back to London’s goldsmith banking business in 1690.

Circle launched in 2013. And Tether Limited a year later in 2014.

Yet, in just over a decade, they have a greater combined value than Bank of America and Barclays, which have been around centuries.

On June 5, Circle went public at a valuation of $6.8 billion. Since then, its market cap has ballooned to over $70 billion. Tether has a private valuation of $515 billion.

By comparison, Barclays has a market cap of $61.5 billion… And Bank of America’s market cap is $343 billion.

That begs the question: How, in just a few years, did these two newcomers become more valuable than two of the world’s most storied banking franchises?

Longtime readers likely know the answer…

Circle and Tether use crypto’s underlying blockchain technology to turn an already profitable banking scheme into an insanely profitable banking scheme.

They aren’t just profitable – they’re raking in cash.

Tether reported $13 billion in profits last year with only 150 employees – making it the most profitable company per employee in history.

So it’s no surprise Wall Street is in a race to adopt the same technology used by Circle and Tether. And it’ll unleash trillions of dollars’ worth of capital into the crypto world.

Disrupting the Traditional Banking System