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Re-intermediation of the crypto asset ecosystem by banks: An empirical study on acceptance drivers among the populace

Author

Listed:
  • Christian Zeiß

    (Institute for Business Management and Business Information Systems)

  • Myriam Schaschek

    (Institute for Business Management and Business Information Systems)

  • Lisa Straub

    (Institute for Business Management and Business Information Systems)

  • Christoph Tomitza

    (Institute for Business Management and Business Information Systems)

  • Axel Winkelmann

    (Institute for Business Management and Business Information Systems)

Abstract

After the initial surge in decentralized finance, widespread public adoption did not materialize. A predominant portion of the populace harbors distrust towards the crypto asset market. Conversely, banks, serving as intermediaries in financial management, enjoy heightened trust. The contemporary development within the banking sector indicates an inclination towards integrating into the crypto asset market. This integration results in new business models for banking institutions and emergent opportunities for their clientele. Prior research addresses perceptions surrounding cryptocurrencies. The present research augments this field by investigating the acceptance of crypto assets. Specifically, we conducted an empirical user study to analyze investing behaviors. By adapting the theoretical framework of the technology acceptance model to the unique characteristics of crypto assets, we highlight acceptance drivers. Notable variances in awareness of crypto assets affect investment decisions. The findings of this study contribute to social welfare by identifying impediments to sustainable investment practices. Additionally, these insights facilitate a more sophisticated comprehension of strategic alternatives available to banking institutions.

Suggested Citation

  • Christian Zeiß & Myriam Schaschek & Lisa Straub & Christoph Tomitza & Axel Winkelmann, 2024. "Re-intermediation of the crypto asset ecosystem by banks: An empirical study on acceptance drivers among the populace," Electronic Markets, Springer;IIM University of St. Gallen, vol. 34(1), pages 1-24, December.
    • Handle: RePEc:spr:elmark:v:34:y:2024:i:1:d:10.1007_s12525-024-00720-4
    DOI: 10.1007/s12525-024-00720-4
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    More about this item

    Keywords

    Crypto assets; Digital assets; Acceptance; Investment banking; DeFi; Blockchain;
    All these keywords.

    JEL classification:

    • G11 - Financial Economics - - General Financial Markets - - - Portfolio Choice; Investment Decisions
    • G41 - Financial Economics - - Behavioral Finance - - - Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making in Financial Markets
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages

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