A significant number of United States banks under the Federal Deposit Insurance Corporation (FDIC) are increasingly exploring the crypto space seeking to offer different services amid consumer demand. 

In this line, data by the FDIC revealed that as of January 2023, about 136 banks were planning or already involved in various crypto-related initiatives, a report by the Office of Inspect General (OIG) published on February 16 indicated.

With a lack of clear regulations, the report noted that the banking sector players are mostly involved with third parties entities to explore the digital currency space.