Today, regulated blockchain and tokenization company Paxos released the results of its US consumer survey on attitudes towards cryptocurrencies, which it conducted in January. It found that 75% of people were likely to buy cryptocurrency from banks if they were offered it. That’s 12 percentage points more than last year.

Meanwhile, regulators continue to discourage banks from participating in the cryptocurrency sector, especially after crypto bank Silvergate ran into trouble.

Paxos also noted that two of the top three platforms used by the 5,000 respondents were non-cryptocurrency companies, PayPal (31%) and Robinhood (26%). Presumably the third member of the group is Coinbase. To qualify for the survey, respondents were required to have purchased cryptocurrency within the past three years.

Regarding motivations for buying cryptocurrency, holding as a long-term investment ranked highest at 52%, with day trading at 36%. However, general use cases performed well, such as using cryptocurrency to pay (42%), receiving cryptocurrency for loyalty (38%), and sending money to friends and family (34%).

Overall, the survey found considerable confidence (75%) despite the crypto crash and FTX crash. A similar number (72%) said they were not concerned or only slightly concerned about the volatility experienced by the market.

Meanwhile, a recent Bank of America survey of wealthy investors found a big shift in attitudes based on age. Those 43 and over ranked domestic equities as their preferred growth opportunity. But that category didn’t make the top five for those under 43. Crypto and digital assets came first.

Paxos, stablecoins and tokenization

Paxos Trust is a trust bank regulated by the NYDFS. Last month, the NYDFS ordered it to stop issuing the Binance USD stablecoin. The NYDFS attributed this to “Paxos’ oversight of its relationship with Binance.” As we previously reported, while Paxos issued the stablecoin on Ethereum, Binance issued pegged coins on other blockchains.

Paxos is one of the more conservative traders and has previously worked with banks to offer stock settlement services as part of a trial. It provides cryptocurrency brokerage services to PayPal and is the service provider for EDXM, a new institutional cryptocurrency exchange backed by Citadel Securities, Fidelity and Schwab.