European insurance giants are far ahead of their US counterparts in talking up blockchain, according to new research that sheds light on financial giants’ differing attitudes toward the cutting-edge technology.

Data provider S&P Global Market Intelligence searched transcripts of large insurers’ earnings calls with analysts for discussions of blockchain technology, which underpins cryptocurrencies such as bitcoin. It found 33 in the past two years. Of these, 15 were in Europe, with nine each in North America and Asia.