Analysts are confident that asset managers and investment companies are interested in investing in digital assets

According to the Financial Times, major financial market players, in particular, Standard Chartered, Nomura and Charles Schwab, are preparing to launch their own trading crypto platforms. According to analysts, there is definitely a point in developing their cryptocurrency projects for Wall Street giants — asset managers and investment companies are still interested in investing in digital assets. If a well-known financial company launches its own cryptocurrency platform, it will be able to attract funding.

“Large traditional institutional investors who have been in the market for a long time and have developed many connections definitely prefer to deal with counterparties that have been around for years and are regulated in a traditional way,” explained Gautam Chhugani, Senior Digital Assets Analyst at Bernstein.

Earlier, the consulting company Ernst & Young polled 250 asset managers, about 50% of whom said they would abandon the services of “native-cryptocurrency” projects and transfer their assets to platforms developed by conservative financial institutions. 90% of respondents reported that they are ready to entrust such structures with the storage of their own digital assets.

Meanwhile, cryptocurrency companies continue to explore new markets. Gemini intends to obtain a license to operate in the UAE, as it is this state that has secured a reputation as an actively developing cryptocurrency center.

Obtaining a license in the UAE is another step in the transformation of Gemini into an international company. This week, top managers of the organization met with stakeholders to learn more about the requirements of local legislation and the wishes of local crypto investors.

The company also recalled its last year’s study, which concerns the introduction of digital currencies in 20 countries. More than 35% of survey participants in the UAE are owners of crypto assets, while in the US only 20% of citizens are digital currency holders.

More than 30% of respondents from the UAE reported that they intend to purchase crypto assets this year. 33% of residents of the eastern state who own digital currencies use them as a means of payment when shopping at retail outlets. Only 19% of the owners of crypto assets do this all over the world.