Crypto Exchanges
Conventional Finance Exchanges Are At odds Concerning Crypto Offerings: Survey
Conventional financial exchanges show mixed views concerning the provision of services and products concerning crypto, as per the survey.
The prominent trade association known as the World Federation of Exchanges (WFE) has recently conducted a survey. Conventional financial exchanges show mixed views concerning the provision of services and products concerning crypto, as per the survey. As included in the crypto trading infrastructure’s study, WFE organized the survey of its participant exchanges.
World Federation of Exchanges Discloses Mixed Responses from Exchanges on Crypto Offerings in Recent Survey
Up to twelve respondents (accounting for forty-one percent) of the total twenty-nine respondents are already providing crypto-related services or products. The rest of the 7 have a strategy to provide these things in the future. On the other hand, the survey also pointed toward the participants who had no plans in this respect.
Also Read: Nigeria-based Crypto Exchange Digital Token Launch Goes through Scrutiny
Contrarily, just twenty-six percent of the respondents were optimistic about the future development of crypto assets. They were of the view that digital assets are going to get a significant position within the financial world. As per them, crypto assets have the potential to attract more and more consumers within the mainstream financial sector.
A Few Participants Believe in Crypto’s Potential to Win Mainstream Adoption in the Coming 5 Years
According to them, the adoption of cryptocurrency will witness substantial growth in the coming 5 years. The conduction of the survey spanned from May to July last year. This took place many months before the FTX crypto exchange’s dramatic crash. The respective collapse had an enormous impact on the entire industry. In addition to this, it also elevated the present concerns related to crypto.
One of the potential causes behind this dealt with ambiguous business practices as well as a deficient regulatory sphere. Due to such things, the crypto community went through several apprehensions. There are more than two-hundred and fifty participants in the WFE. They take into account the organizations such as SIX Group of Switzerland, Deutsche Boerse, and Nasdaq.
