Cryptocurrency trading market will open in more than 20% of financial institutions soon. A survey by Thomson Reuters Corporation shows that most institutions are preparing to enter into cryptocurrency trading.
According to Bitcoin.com, Thomson Reuters Corporation reported a survey covering more than 400 clients of their platform. It contains that 20% of financial institutions are planning to enter cryptocurrency space. 70 % of them are considering to start trading cryptocurrencies in next 3 to 6 months.
“Historically, the banking sector has been notoriously dismissive of the crypto movement. Cryptocurrency has variously been called a bubble, an asset for criminals, and worthless. But today’s survey demonstrates that while financial institutions are saying one thing, they’re doing quite another,” commented Kevin Murcko, CEO of cryptocurrency exchange Coinmetro.
Thomson Reuters, Eikon platform helps professionals working for cryptocurrency institutions. Through this platform, they can get access to cryptocurrency data ( BTC price quotes).
The Goldman Sachs, CEO denied interest in cryptocurrency sector. But there is a rumor that they are planning a bitcoin trading desk. On Monday, The company hired Justin Schmidt, a former quantitative trader. He will manage the digital assets in the securities division.
“In response to client interest in various digital products, we are exploring how best to serve them in the space,” Goldman Sachs spokeswoman Tiffany Galvin-Cohen said
The financial company must be aware of the huge demand for cryptocurrency trading. As a result, several financial companies are moving towards the cryptocurrency trading soon.
Let us know what you think about this. Will financial institutions start cryptocurrency trading? let us know in the comment below