The Distillery #1: US Banks Get the Green Light to Go Crypto

April 2025

Fintech & Payments

Juniper Research

Analyst House

Welcome to The Distillery!

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(US President Donald Trump unveiled a series of new trade tariffs just before we went to print. We'll be publishing a deep dive next week of how these are going to impact fintech and telecoms.)

In this edition:

• US banks are now free to explore crypto – here's what that means for stablecoins, cross-border payments, and CBDCs.
• Outbound roaming is surging – the trends you should be watching in 2025.
• Got an industry question? Our analysts are here to answer it.
• ICYMI – our latest insights on mobile messaging, trade surveillance, EV charging, and digital ad fraud.

FINTECH & PAYMENTS

FDIC Reversal Allows Banks to Explore Crypto & Digital Assets

The Federal Deposit Insurance Corporation (FDIC) in the US has announced that, in a reversal of policy, US banks will now be able to engage in "permissible activities" with emerging technologies like cryptocurrencies and digital assets — as long as they manage the risks.

This shift eliminates the need for prior approval; removing the previous regulatory barriers and giving banks the freedom to experiment with cryptocurrencies and digital assets.

Distilled...

🟣 Stablecoins are poised to become a key focus for banks seeking more efficient cross-border transactions. Our latest data on the subject says US businesses will save nearly $10 billion by 2029 through stablecoin adoption - a prediction that's now been supercharged by the FDIC’s rollback.

🟣 While interest in cryptocurrencies and digital assets will surge, expect banks to take a risk adverse view of the market. Think cautious, well-calculated moves, rather than buying up crypto en-masse or ditching legacy infrastructure for blockchain.

🟣 Central Bank Digital Currencies (CBDCs) are unlikely to make a return, given that the Trump administration has referred to them as a "threat to financial stability and privacy." We cover this story in more detail here.

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TELECOMS & CONNECTIVITY

Insider: Outbound Roaming Trends to Watch in 2025

Global travel is booming, and so is mobile roaming. To mark the release of our new roaming corridors research, we’re offering an exclusive look at three trends that are fueling travelers' wanderlust - and if you're a roaming player, should be factored into your strategies.

🟣 With the US hosting 60 of the 104 World Cup matches in 2026, over 18 million inbound roamers are expected to flood the States in June and July alone. Travel eSIM vendors need to start preparing now to seize this major opportunity - particularly those aiming to secure partnerships with national teams for fan-exclusive offers.

🟣 Rising incomes and a booming middle class is fuelling India’s outbound roaming market, as newly minted travelers look to visa-friendly destinations such as Thailand. Our advice? Fine-tune your roaming agreements and marketing strategies to target these hotspots and the 35 million people who will be roaming internationally from India this year.

🟣 Social media is shaping China’s outbound roaming market. Traditional tourism is still going strong, but viral posts on platforms like Xiaohongshu (the Chinese version of Instagram) are driving surges in demand for unexpected destinations including Düsseldorf and Laos. Operators need to be sure they're staying ahead of these trends - because there's nothing worse than jumping on a meme after it’s dead.

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Q&A

What's on Your Mind?

Is there an industry trend that's keeping you awake at night? Or a headline that's left you scratching your head? Now's your time for answers.

Send us your burning questions, takes, or mysteries using the button below, and every issue, we'll answer as many as we can!

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ICYMI

Signal Boost

Every issue, we highlight the research, blogs, infographics, and assorted insights we're especially proud of.

✈️ If you want more roaming content, good news: 5G subscribers will spend $10.8 billion on roaming globally in 2028; finally overtaking 4G.

🕵️ We highlighted 15 tactics used by rogue traders to manipulate financial markets, taken from our new trade surveillance systems research.

⚡ BYD and Zeekr are gearing up for a fight over who has the best ultra-fast electric vehicle chargers. But what does this mean for everyone else?

📰 US Senator Mark Warner (D-VA) recently wrote to the Federal Trade Commission and Department of Justice about digital ad fraud in the US; citing our data. Read the full study, which we created with Fraud Blocker.

💬 And finally, we've just launched the Mobile Messaging Tech Horizon; a free resource designed to give you a clear, independent assessment of which messaging technologies are rewriting the rules - and which are just empty hype. Get your copy here!

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