Source: Cointelegraph.com NewsWhy finance veterans are still skeptical about blockchain
\nBlockchain has been part of the finance conversation for over a decade now. Yet many professionals remain cautious.\u00a0
\nMany seasoned professionals in finance, wealth management and economics often question blockchain\u2019s relevance, asking, How exactly is blockchain supposed to fit into what we already do?<\/p>\n
This question reflects a few key ongoing skepticisms about blockchain within finance.
\nUncertainty about practical applications
\nBlockchain offers some big promises: faster settlements, stronger security and better transparency. But actually applying those promises across banking, accounting and operations is still complicated.
\nA 2021 APQC survey identified the main hurdles: a lack of industry-wide adoption, skill gaps, trust issues, financial constraints and problems with interoperability. Even organizations that want to embrace blockchain often struggle to turn ideas into working solutions.
\nDoubts about necessity
\nSome finance professionals aren\u2019t convinced blockchain is necessary at all.
\nThe same APQC survey showed trust issues and a lack of understanding as major reasons for the slow adoption. Without a clear and compelling return on investment (ROI), it\u2019s tough to justify tearing up existing systems that, frankly, still work.
\nLack of understanding\u00a0
\nMaybe the biggest obstacle? A lack of understanding.\u00a0
\nA 2024 study revealed that only 13.7% of financial advisers engage with clients about cryptocurrencies despite increasing client interest and the approval of crypto exchange-traded funds (ETFs) between 2021 and 2024.\u00a0
\nMoreover, while groups like the American Institute of Certified Public Accountants (AICPA) are trying to build frameworks for blockchain compliance and auditing, there\u2019s no standard playbook yet. And without clarity, leadership teams are stuck.\u00a0
\nThis article will aim to address each of these skepticisms, ultimately providing an answer to how blockchain fits into finance in 2025.
\nDid you know? Christina Lynn, a behavioral finance researcher and certified financial planner, highlighted in her 2024 Journal of Financial Planning article that many financial advisers dismiss cryptocurrency due to biases, fear and regulatory concerns despite growing investor interest. She urges advisers to educate themselves, adopt a balanced approach, and provide guidance to avoid client mistakes. The 2025 blockchain landscape: Key developments
\nUnbeknownst to many, thanks to regulatory shifts, stablecoins gaining ground and major institutions building on-chain infrastructure, blockchain is moving from experimental to essential within finance. Below are the developments serving as key contributors in 2025.
\nRegulatory shifts
\nThe US Federal Reserve has relaxed its 2022 stance, no longer requiring banks to get explicit approval to offer crypto services. Similar signals from the Federal Deposit Insurance Corporation and the Office of the Comptroller of the Currency show that regulators are starting to treat blockchain as a legitimate tool.<\/p>\n
At the same time, SEC Chair Paul Atkins is pushing for clearer, innovation-friendly crypto rules, moving away from vague enforcement tactics and toward a more structured regulatory framework.
\nStablecoin stampede
\nThe stablecoin market capitalization has climbed to nearly $240 billion as of late April 2025, brushing up against an all-time high.\u00a0
\nRegulators are also stepping up. In Europe, the Markets in Crypto-Assets (MiCA) framework is now fully live, laying down clear ground rules for crypto assets. For stablecoins, that means strict 1:1 reserve requirements and a crackdown on anything resembling an algorithmic model without real backing.\u00a0
\nMeanwhile, in the US, lawmakers are making moves, too. The STABLE Act, reintroduced in March, proposes tighter oversight over stablecoin issuers and even suggests a two-year freeze on new algorithmic coins. Alongside it, the GENIUS Act aims to set up a whole new licensing system for stablecoins, making issuers meet banking-level standards for reserves, redemption rights and compliance.
\nThe private sector isn\u2019t sitting still either. Coinbase recently waived fees on PayPal\u2019s PYUSD (PYUSD) transactions and now offers seamless USD redemptions. It\u2019s a smart play to make stablecoins more visible in day-to-day finance.\u00a0
\nAnd the uptake isn\u2019t just happening in the US. In Asia, stablecoins are becoming a go-to for cross-border remittances because they\u2019re faster and cheaper than traditional methods. In Latin America, they\u2019re being used to hedge against local currency collapses; in Brazil, for example, stablecoins now make up over 80% of crypto transactions.\u00a0
\nIn different corners of the world, stablecoins are solving very real problems.
\nBlockchain goes big
\nProjects like JPMorgan\u2019s Kinexys and Citigroup\u2019s permissioned blockchain platform show that major banks are actively investing in tokenization, digital asset settlement and blockchain infrastructure for global finance.
\nDid you know? The global blockchain market is projected to reach $162.84 billion by 2027, up from $26.91 billion in 2024.
\n Blockchain in banking operations
\nAs of 2025, blockchain is helping streamline settlements, tighten compliance, and transform cross-border payments from a headache into a smooth operation.\u00a0
\nHere\u2019s how:
\nReal-time settlement and clearing
\nMoving money between banks \u2014 especially across borders \u2014 used to be a slow, messy process. Layers of intermediaries meant delays, high fees and plenty of room for errors.
\nBy cutting out intermediaries and verifying transactions directly, blockchain enables near-instant settlement, slashing turnaround times dramatically.
\nIn fact, JPMorgan\u2019s Kinexys platform (part of its Onyx suite) now processes over $2 billion in daily transactions, using JPM Coin to settle payments across banks and currencies in real time.
\nIt\u2019s an example of a live system handling serious volume with the help of a blockchain.
\nEnhanced KYC and AML compliance
\nKnow Your Customer (KYC) and Anti-Money Laundering (AML) checks have always been necessary \u2014 but painfully slow and repetitive.
\nBlockchain offers a smarter way to handle them. A tamper-proof ledger allows banks to securely store and share verified customer information, speeding up audits and reducing compliance headaches.
\nAnother real-world example from JPMorgan is Liink, which runs a blockchain-inspired service called Confirm, which helps banks validate over 2 billion bank accounts across more than 3,500 financial institutions, dramatically improving efficiency for KYC processes.
\nCheaper, faster cross-border payments
\nSending money internationally used to take days and came with hefty fees.
\nWith blockchain, transactions can settle in minutes, and fees are significantly lower.
\nReal-world moves:<\/p>\n
HSBC and Ant Group: In 2023, they ran real-time HKD-denominated tokenized transactions under the Hong Kong Monetary Authority\u2019s Ensemble Sandbox, giving businesses 24\/7 cross-bank transfers.<\/p>\n
Wells Fargo: Implemented HSBC\u2019s blockchain-based system for foreign exchange settlements, reducing risk and speeding up cross-border FX deals.<\/p>\n
Even Deloitte estimates that blockchain could slash cross-border payment costs by 40%-80%, saving the industry up to $24 billion a year.
\nThis all shows that banks are betting real money and real infrastructure on blockchain delivering real value.
\nDid you know? Visa\u2019s Tokenized Asset Platform (VTAP) allows banks to mint, burn and transfer fiat-backed tokens, such as tokenized deposits and stablecoins.
\nConsiderations for banks
\nOf course, blockchain isn\u2019t a panacea. There are a few things banks need to keep in mind:<\/p>\n
Integration is critical: Blockchain systems have to plug into existing core banking infrastructure. Full rip-and-replace projects aren\u2019t practical (or cheap).<\/p>\n
Training matters: New systems won\u2019t work if the people running them don\u2019t know how. Banks need to upskill teams across compliance, operations and IT.<\/p>\n
Customer experience comes first: It\u2019s not just about making internal processes faster \u2014 clients need to feel the difference, too.<\/p>\n
Behind the scenes, accounting and auditing firms are also finding that blockchain can fix long-standing pain points. That\u2019s what will be explored next.
\n Blockchain in accounting and auditing
\nAccounting and auditing might not be flashy headlines, but behind the scenes, blockchain is slowly changing how financial data is managed, verified and reported.
\nBetter data security and fraud prevention
\nWith blockchain, once a transaction is recorded, it can\u2019t be altered without consensus from the network. This built-in immutability drastically reduces the risk of tampering or fraud and strengthens the integrity of financial records.
\nMore transparency = better audits
\nAuditors no longer need to stitch together fragmented information from multiple systems. Blockchain provides a single, real-time, tamper-proof trail of transactions, making audits faster, more accurate and more reliable.
\nStreamlined reconciliation and reporting
\nBlockchain simplifies day-to-day reporting, too. Instead of manually reconciling across different ledgers, authorized parties all have access to a shared, automatically updating record.
\nAdoption challenges
\nOf course, it\u2019s not all smooth sailing.<\/p>\n
Lack of standardization: There\u2019s still no universal rulebook for blockchain accounting. Groups like the AICPA and the International Accounting Standards Board are issuing early guidance, but without global standards, firms must tread carefully.<\/p>\n
Integration woes: Most firms still use legacy enterprise resource planning and accounting platforms that weren\u2019t designed for blockchain. Integrating \u2014 or deciding when to overhaul \u2014 poses serious technical and financial challenges.<\/p>\n
Regulatory uncertainty: Regulations around digital assets and blockchain-based transactions are evolving fast. Firms must keep their internal controls and reporting practices agile to stay compliant.<\/p>\n
Did you know? The concept of triple-entry accounting, enabled by blockchain, adds a third component to traditional double-entry systems.
\n Blockchain for CFOs and treasurers
\nIn 2025, blockchain is a practical tool for chief financial officers and treasurers looking to sharpen financial reporting, improve operational efficiency, and strengthen risk controls.
\nStrategic applications<\/p>\n
Real-time financial reporting and analysis: Blockchain\u2019s tamper-proof, real-time data streams give CFOs instant access to financial performance. No more waiting for reconciliations \u2014 finance teams can forecast and pivot with live numbers at their fingertips.<\/p>\n
Smart contracts for compliance and transactions: Smart contracts automate routine processes like compliance checks and payment executions, reducing human error and ensuring agreements are enforced exactly as written.<\/p>\n
Tokenization for capital raising and asset management: Tokenizing assets such as real estate, equipment or equity opens new doors for raising capital and improving liquidity. Fractional ownership models also make it easier to access a broader investor base.<\/p>\n
Risk management considerations
\nWhile blockchain enhances security overall, it\u2019s not invulnerable. Strong access controls, regular audits and active network monitoring are essential to protect systems and assets.\u00a0
\nOrganizations also need contingency plans in place, since blockchain networks can experience outages or latency issues; having off-chain fallback procedures ensures business continuity during disruptions.
\nFinally, CFOs and treasurers must stay actively engaged, working closely with legal teams and regulators to stay ahead of compliance risks and future-proof their operations.
\n Best practices for blockchain compliance
\nIf you\u2019re operating \u2014 or planning to operate \u2014 in blockchain environments, these practices should be at the top of your checklist.
\nEstablish robust internal controls
\nManaging digital assets safely demands stricter-than-ever internal controls. That means:<\/p>\n
Segregation of duties
\nRole-based access systems
\nRigorous transaction validation.<\/p>\n
Without these safeguards, the risk of fraud or mismanagement climbs quickly.
\nEngage with regulators early
\nOrganizations that wait for final rulings often find themselves scrambling. Proactively building relationships with regulatory bodies helps you stay informed and adapt to early guidance.
\nFor example, a licensed Swiss crypto bank, SEBA, engaged early with the Swiss Financial Market Supervisory Authority (FINMA) and became one of the first banks to secure a banking and securities dealer license in 2019. Its proactive compliance approach allowed it to operate both crypto and traditional assets legally in Switzerland.
\nIn addition, the Crypto Valley Association (based in Zug) collaborates regularly with Swiss regulators to shape clear, forward-thinking crypto and blockchain policies. They\u2019ve been instrumental in making Switzerland one of the world\u2019s most crypto-friendly jurisdictions.
\nInvest in ongoing compliance training
\nBlockchain regulation is in flux. Regular training ensures your finance and compliance teams are ready to adapt.
\nEveryone from junior auditors to senior compliance officers needs to stay fluent in blockchain fundamentals, regulatory updates and best practices.
\nBy building these habits into your organization now, you\u2019ll be better equipped in the long term.
\n Actionable steps for finance professionals
\nSo, blockchain does have real use cases in finance; it is here to stay and needs to be firmly on your radar.\u00a0
\nHere\u2019s how different finance professionals can start making smart, manageable moves today:
\nFor bankers
\nFocus on practical wins first.
\nLook for areas where blockchain can immediately improve operations, like speeding up settlements, streamlining compliance processes or making loan servicing more transparent.
\nInstead of jumping into a full blockchain overhaul, pilot small initiatives in targeted areas like trade finance or cross-border payments. This way, you can measure results with minimal risk.
\nAlso, partnering with fintechs that specialize in blockchain infrastructure can accelerate your learning curve and implementation, letting you tap into blockchain benefits without rebuilding internal systems from scratch.
\nFor CPAs and auditors
\nStay current with evolving standards \u2014 especially updated AICPA guidance on digital asset accounting and blockchain auditing.
\nCertified Public Accountants (CPAs) and auditors also need to build technical expertise because auditing blockchain records isn\u2019t the same as auditing traditional ledgers.
\nYou\u2019ll need to understand:<\/p>\n
How blockchain structures data
\nHow verification works
\nWhat best practices apply to blockchain audit trails.<\/p>\n
Moreover, don\u2019t be afraid to advocate for blockchain adoption at your firm \u2014 especially when it can boost transparency, lower risk, and strengthen the credibility of financial reporting.
\nFor CFOs and treasurers
\n\u00a0When evaluating blockchain initiatives, look through a financial lens first. Consider:<\/p>\n
How blockchain impacts cash flow
\nHow tokenization might affect your balance sheet
\nHow stablecoins or blockchain-based settlements could influence treasury operations.<\/p>\n
If tokenization or stablecoin strategies are even on the horizon for your business, they should already be reflected in your three- to five-year strategic plans. Source: Cointelegraph.com NewsWhy finance veterans are still skeptical about blockchain Blockchain has been part of the finance conversation for over a decade now. Yet many professionals remain cautious.\u00a0 Many seasoned… <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"_links":{"self":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/128699"}],"collection":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=128699"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/128699\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=128699"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=128699"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=128699"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\nAlso, don\u2019t go it alone: Engage with peer networks, industry groups and blockchain-focused finance events. Real-world insights from other CFOs and treasurers can help you spot opportunities and avoid common early-adoption pitfalls.Read More<\/a>blockchain, finance<\/p>","protected":false},"excerpt":{"rendered":"