Three out of four US financial institutions have blockchain programs in some stage of development, according to a survey conducted by digital asset platform Uphold together with trade publication American Banker. The poll, which ran from July 27 to August 14, 2026, gathered responses from 114 decision-makers across banks, credit unions and neobanks.

The headline figure splits into two distinct cohorts. Some 22% of respondents reported live or scaling blockchain projects, while 53% said they are running pilot programs or formal evaluations. The remainder have no active initiative.

Budgets are following the mandates. Two-thirds of surveyed institutions said they have allocated dedicated funding toward digital asset infrastructure. More than half, 54%, have gone further and issued requests for proposals to potential vendors and partners — a signal that procurement cycles for custody, wallet and settlement infrastructure are already underway rather than merely anticipated.

The organizational commitment is equally concrete: 72% of institutions have appointed a specific executive to oversee digital asset and blockchain strategy. That ratio of dedicated leadership to active programs suggests blockchain oversight is being absorbed into formal management structures, not confined to innovation labs.

Wallets, wealth and stablecoin rails dominate

The survey identified three dominant use cases. Digital wallets and custody solutions lead at 72% of respondents, followed closely by buy, sell and hold services embedded in wealth management at 70%. Stablecoin infrastructure for institutional settlements ranks third at 64%.

The pattern points to a specific strategic logic. Banks appear to be prioritizing customer-facing asset services and the settlement layer that supports them — the two areas where digital-native platforms already compete on speed and cost — over more speculative applications.

Uphold CEO Simon McLoughlin framed the results as evidence that the financial services industry has moved past theoretical debates about blockchain. He noted that regulators including the SEC and CFTC have made progress in providing clarity, even as comprehensive legislation such as the anticipated Clarity Act remains unfinished.

McLoughlin pointed to the advantages digital-native platforms already deliver, including faster and cheaper financial services compared with what traditional institutions currently offer. Two-thirds of survey respondents said they believe blockchain adoption will produce shared benefits for banks and their customers.

Barriers persist

The obstacles have not disappeared. Nearly half of respondents, 47%, flagged cybersecurity threats as a primary concern. An equal share cited operational and risk management challenges, and regulatory compliance complexity followed at 46% — a figure that underscores how much depends on the unfinished legislative agenda McLoughlin referenced.

For vendors of custody, wallet and stablecoin infrastructure, the commercial implications are direct. With 54% of institutions already in RFP processes and two-thirds holding dedicated budgets, the bank-side digital asset buildout has shifted from exploratory to procurement-driven. The 22% with live or scaling projects represent the early reference customers; the 53% in pilots represent the contested market.

The unresolved variable is Washington. Until legislation such as the Clarity Act advances, the 46% of institutions citing compliance complexity are likely to keep scaling plans paired with legal review — meaning the pace of the shift from pilot to production will track the legislative calendar as much as the technology roadmap.