Financial institutions decide to follow the cryptocurrency train in 2018

Big names of finance like Goldman and Sachs has always been reluctant to anything related to cryptocurrencies. Recently, most of these financial institutions has started to be open minded when it comes to Bitcoins and its friends, as the trend still goes up against every prediction. The Bubble did not burst then institutional investor are coming.

Individual buyers are the most attracted by cryptocurrencies

The actual fame of Bitcoin can be considered thanks to the army of individual traders who buy and hold it. Various platforms are aiming at these people, and some make it possible for them to buy Bitcoins with very low funds (say $20). Even if it only allow to but a very small fraction of Bitcoin, it allows these buyers to “start small”, and for most of them, it’s the first step into the world of trading, on which their survival as traders only depends of their skills.

Some exchange platforms can receive up to 50 000 inquiries of subscriptions on a daily basis, and that number even reach 250 000 for Binance, one of these exchanges. Subscribers are so numerous that some exchanges like Binance or CEX.io decided to forbid new subscriptions, until they make the required modifications on the platforms to make it easier to manage all of these users, and to ensure their safety as well.

When financial institutions are interested in cryptocurrencies

The actual cryptocurrency trend is still going upwards after recent highs and lows; indeed, there was a time when the Bitcoin price alone went from $12 000 to $20 000 and the other way around within a few weeks. Important institutions from the financial world are still standing up against the cryptocurrencies, but not all of them. We can mention the MUFG bank in Japan, who’s backing the cryptocurrencies with the future creation of their own exchange platform. Along with such decision, they also intend to create their own coin, comparable to the USDT.

The Japanese government is very open to the development of cryptocurrencies within the country’s borders, and they favor a cryptocurrency that is directly exchangeable with Yen. The same thing is happening in South Korea, where the cryptocurrencies are more popular than in any other Asian country. In regards to what happen in Asia, multinationals such as MoneyGram started to collaborate with the Ripple Company, as they would obviously have a lot to gain with the use of their fast payment network.

Switzerland and Canada as well tend to invest in blockchain to manage administrative task to pulic tender using smart on contract on Ethereum network.

Cryptocurrencies are popular, but blockchains are too

Big financial institutions couldn’t have stood too long away from the Bitcoin craze, and soon, companies such as Goldman and Sachs plan to dedicate a whole section of their activities to cryptocurrencies. The investments aren’t only about the sole currencies, their backbone, the blockchain, is well perceived by long term investors as well. Whenever a company finds a creative way to use blockchain to provide valuable services, it can be sure to attract a lot of financial funds.

Every doubt related to the crypto-currencies are slowly disappearing, and more and more people from the financial world are showing interest for these.

If the best time to invest in cryptocurrencies was a few years ago, it’s not too late yet to make long term investments, may it be on assets such as Bitcoins or technologies like blockchains.

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