U.S. Community Banks Face Challenges Amid Digital Transformation

According to PANews, Cody Carbone, the new CEO of the Digital Chamber, a cryptocurrency advocacy group, has raised concerns about the declining number of community banks in the United States. The number of these banks has dropped from around 10,000 in the mid-1990s to 4,046 today. Carbone highlighted on social media that these banks missed opportunities to create competitive advantages by not adopting innovative technologies such as real-time payment systems, crypto asset custody, and stablecoin channels, leading to their vulnerability to mergers and acquisitions. The Digital Chamber, a leading blockchain industry association in the U source: https://www.binance.com/en/square/post/24263380440002?utm_source=BinanceNewsRSS