New Survey Shows Traditional Finance Exchanges Hold Different Views On Offering Digital Asset Services
Traditional finance exchanges maintain a divided stance on offering crypto-related products to their customers according to a new research report by the World Federation of Exchanges (WFE).
The WFE released on Sept 5 findings from a survey it conducted with 29 respondents aiming to improve a wider understanding of the crypto market infrastructure, the evolution of trading platforms, and contrasting differences between centralized and decentralized cryptocurrency exchanges.
Per the report, 41% of the respondents (12 firms) currently offer crypto trading and asset management services to their clients while seven firms have plans to offer such services in the future.
In sharp contrast, a third of participants have no plans of offering crypto-related services in the future with some citing regulatory concerns and the fear of exposing users to fraudulent crypto startups.
The survey commenced a few weeks after the collapse of the Terra ecosystem which reportedly wiped off billions from the market opening the sector to tighter regulations.
Per the survey, 26% of participants project a huge growth in the digital assets market over the next five years. This increased adoption drive has been linked with renewed institutional investment and centralized financial firms offering tokenized assets to their customers.
The potential approval of a spot Bitcoin (BTC) ETF in the United States has also drawn a similar view from experts at Bernstein.
Participants in the survey opine that they have recorded a higher demand from retail investors than their institutional counterparts. However, while retail clients demand stablecoins and non-fungible tokens, institutional investors demand custody and security-backed assets.
The participants also
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