Traditional finance increasing crypto exposure

Traditional finance increasing crypto exposure

TradFi, the traditional finance, continues advancing into the crypto territory.

Just this week:

? American Nasdaq ($6.4 billion of total equity) launched the Nasdaq Digital Assets, a custody solution for institutional investors that will start with BTC and ETH.

? Japanese Nomura Holdings ($460 billion AUM), part of the biggest and oldest Japanese bank, announced the launch of Laser Digital Holdings. This Switzerland-based crypto-focused venture capital fund that will focus on “DeFi, centralized finance, Web3 and blockchain infrastructure”.

? French Société Générale added a crypto custody offer for asset management companies to its Société Générale Securities Services ($4.3 trillion of assets under custody).

Press releases, like so many others, mention the “increasing interest in crypto” from their institutional clients and the desire to “stay at the forefront of digital innovation”.

Only Jamie Dimon, the CEO of JPMorgan, a bank actively engaged in crypto itself, does not intend to change the tune, recently declaring that Bitcoin and other crypto are “decentralized Ponzi schemes”…

The dogs bark, but the caravan goes on.