Traditional Finance going crypto
novembre 24 2021

Traditional Finance going crypto

Crypto is steadily pouring into traditional finance, despite their noticeable ideological differences.

The latest financial institution to come on board is Australian retirement fund Rest Super, managing over $46Bn of assets for its 1.8M members. Pension Funds are among the most conservative institutions there are, and Rest Super’s decision to add crypto to its portfolio was an important one. It was easily justifiable though: the firm’s CIO mentioned that “in an era of inflation, it could be a potentially good place to invest”. We cannot agree more ?

In the US, Citigroup, a multinational investment bank, is also well-determined to expand its crypto opportunities: it recently announced willing to hire 100 people to grow its crypto team. Citigroup acknowledges crypto for its many benefits, “including the benefits of efficiency, instant processing, fractionalization, programmability, and transparency” ?

It is nice to see financial institutions ready to profit from the many advantages crypto has to offer, instead of (unsuccessfully) trying to fight it.

Those who realize crypto’s inevitability will have a first mover advantage, and it is not late yet: a recent study by Circle and pymnts. com showed that only 10% of 250 financial institutions surveyed used or provided access to crypto.

We are still early in so many ways ?