Bank AI

Nova

Read

<div class="cryptonews">
 <p class="is-style-lead">A panel of industry experts indicated growing, albeit cautious, <a rel="noopener noreferrer nofollow" title="adoption" href="https://thebittimes.com/tag/adoption.html">adoption</a> of <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>currencies and blockchain technology by mainstream financial <a rel="noopener noreferrer nofollow" title="institutions" href="https://thebittimes.com/tag/institutions.html">institutions</a> at the European Blockchain Convention on Wednesday.</p>
 <p>The panel consisted of Nikou Asgari, digital markets correspondent at Financial Times, Manuel Nordeste of Fidelity Digital Assets, Christopher Siedentopf of Uphold, Eliezer Ndinga of 21Shares and Anya Nova of GKS.</p>
 <p>Nordeste said the firm has seen increased interest from traditional financial <a rel="noopener noreferrer nofollow" title="institutions" href="https://thebittimes.com/tag/institutions.html">institutions</a> despite the volatility.</p>
 <blockquote class="wp-block-quote">
  <p>We certainly continue to invest in this business with the view that, you know, perhaps even though we have very volatile and very sort of extreme cycles in this asset class, that there’s an upwards trajectory in terms of <a rel="noopener noreferrer nofollow" title="adoption" href="https://thebittimes.com/tag/adoption.html">adoption</a>.</p> <cite>Manuel Nordeste</cite>
 </blockquote>
 <p>However, the panelists agreed that lack of clear regulations remains a significant hurdle for wider <a rel="noopener noreferrer nofollow" title="adoption" href="https://thebittimes.com/tag/adoption.html">adoption</a>.</p>
 <blockquote class="wp-block-quote">
  <p>We can’t get around regulation. So for me, that’s key.</p> <cite>Christopher Siedentopf</cite>
 </blockquote>
 <div class="cn-block-related-link">
  <svg class="cn-block-related-link__icon icon" aria-hidden="true"><use xlink:href="#"></use>
  </svg> <span class="cn-block-related-link__prefix"> You might also like: </span> How institutions are driving the crypto renaissance
 </div>
 <p>Nova said banks have been cautious about crypto adoption due to security concerns, but new technologies like multi-party computation algorithms are helping address these issues.</p>
 <p>From the investor perspective, Ndinga said they are getting more questions from institutions about crypto classification, valuation models, and portfolio allocation recommendations. He highlighted exchange-traded products (ETPs) as an easy way for traditional investors to get exposure.</p>
 <p>Overall, the panelists expressed optimism that mainstream <a rel="noopener noreferrer nofollow" title="adoption" href="https://thebittimes.com/tag/adoption.html">adoption</a> is steadily increasing, even if mostly behind the scenes for now. They pointed to real-world asset tokenization and decentralized finance as potential tipping points.</p>
 <div class="cn-block-related-link">
  <svg class="cn-block-related-link__icon icon" aria-hidden="true"><use xlink:href="#"></use>
  </svg> <span class="cn-block-related-link__prefix"> Read more: </span> Deutsche Bank to secure crypto for institutions, TRX and DOMI may find support
 </div> <span class="google-news-banner__label">Follow Us on Google News</span>
</div>
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/financial-institutions-inch-towards-crypto-adoption-tbt67734.html">https://thebittimes.com/financial-institutions-inch-towards-crypto-adoption-tbt67734.html</a></p>

Financial institutions inch towards crypto adoption

TheBitTimes

Other articles published on Oct 25, 2023

Grid+ (GRID) Price Prediction 2024, 2025, 2030, 2040, and 2050

Coinbase accuses SEC of attempting ‘radical expansion’ of its authority

WEMIX enters a strategic partnership with Chainalysis

Litecoin Shows Bullish Signs Despite Resistance, Short Sellers Alert

Huge one day candle sees Bitcoin pass key Glassnode indicator teasing potential outsized gains

Staking on LUKSO? Look no further: A new liquid staking protocol just went live

Join our free newsletter for daily crypto updates!