Santander Group wants to know how Bitcoin might affect the banking industry

8

The Santander Group, which owns the largest bank in the Eurozone by market value, has ordered a new Bitcoin-related study that will analyze the potential impact of cryptocurrency on the banking industry. The document, which will be produced by the consultancy firm Yegii, will also “devise a strategic course of action” regarding the growing popularity of digital money in Europe.

The Spanish banking group was founded back in 1857, but it is certainly not ready to turn its back on an innovation like cryptocurrency. According to Trond Undheim, the founder of Yegii, the consultancy agency was approached by Banco Santander’s head of corporate development, Julio Faura, who requested the study.

“[Faura was] looking for additional outside perspective onto the topic of Bitcoin. While acquiring consulting services from top tier consulting firms can be exciting, he thought that an outsider, multidisciplinary perspective, would be particularly helpful”, Undheim said, quoted by CoinTelegraph.

It looks like one the largest banks in the world in terms of market capitalization – also named in 2014 by Euromoney magazine as the Best Bank in Western Europe, Spain, Mexico, Portugal, Argentina and Puerto Rico – wants to better understand Bitcoin and other altcoins to make the most of this innovative wave.

Trond Undheim believes this project will be a great opportunity for Bitcoiners who want their opinion to be heard loud and clear.

Yegii wants to involve Bitcoin experts and enthusiasts, as well as skeptics, who wish to get involved in the study. The firm is asking all interested people to register online and then submit an initial response to how one would approach the impact of Bitcoin on banks.

Featured image source: Wikimedia

Find the best exchange to buy Bitcoins


Maria Santos

Maria is an experienced journalist currently living in the UK. She has been writing about Bitcoin and the altcoin universe since 2013. She is also a member of the Lifeboat Foundation's New Money Systems Board and a big cryptocurrency supporter.

Leave A Reply