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Uphold survey shows 75% of US banks are building blockchain services
A joint survey with American Banker finds three-quarters of US financial institutions have active blockchain initiatives, with stablecoins and digital wallets leading the charge.
Three out of four US financial institutions now have blockchain programs in some stage of development, according to a new survey from Uphold and American Banker.
The survey, conducted between July 27 and August 14, 2026, polled 114 decision-makers across banks, credit unions, and neobanks. Of the 75% with active blockchain initiatives, 22% reported live or scaling projects, while 53% said they were running pilot programs or formal evaluations.
Banks are putting real money behind the shift
Two-thirds of the surveyed institutions said they have allocated dedicated funding toward digital asset infrastructure. More than half, 54%, have gone a step further by issuing requests for proposals to potential vendors and partners.
Perhaps the most telling data point: 72% of institutions have appointed a specific executive to oversee digital asset and blockchain strategy.
Wallets, wealth management, and stablecoins lead the way
The survey identified three dominant use cases driving adoption. Digital wallets and custody solutions topped the list at 72%, followed closely by buy/sell/hold services within wealth management at 70%. Stablecoin infrastructure for institutional settlements came in third at 64%.
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The barriers haven’t disappeared
Nearly half of respondents, 47%, flagged cybersecurity threats as a primary concern. An equal percentage cited operational and risk management challenges. Regulatory compliance complexity wasn’t far behind at 46%.
Uphold CEO Simon McLoughlin framed the survey results as evidence that the financial services industry has moved past theoretical debates about blockchain. He noted that regulatory bodies including the SEC and CFTC have made progress in providing clarity, even as comprehensive legislation like the anticipated Clarity Act remains unfinished.
McLoughlin pointed to the advantages that digital-native platforms already deliver to customers, including faster and cheaper financial services compared to what traditional institutions currently offer.
Two-thirds of the survey respondents said they believe blockchain adoption will create shared benefits for both banks and their customers.