A new world of cryptocurrencies, stablecoins and central bank digital currencies (CBDCs) is emerging. Due to the advantages of taking part in such initiatives, many are now in advanced stages and various have been progressed to production projects, so banks cannot afford to remain on the side-lines any more. But, is the time right for financial institutions to really adopt cryptocurrencies and how can they offer this type of service securely? For banks, this is a big challenge they have to answer, if they do not want to be left out of this unstoppable wave in this new financial era.