According to analytical company Acuiti, in the next two years, the cryptovrency market will be entered by many companies trading traditional assets, which will contribute to the development of digital currencies.
The study, which was conducted jointly with Bitstamp and the Chicago Mercantile Exchange (CME), involved firms that trade both traditional financial assets and cryptov currencies. Today, the level of implementation of cryptovalues is quite low - only one out of five traditional firms is engaged in trading bitcoin, ether or other altokines.
However, there is a growing interest in the cryptovolta market among such firms, as they are considering joining or expanding their presence in order to 'cover' even more assets. 97% of traditional asset trading companies are ready to enter the cryptovolta market within two years, and 45% will consider it in the next six months.
"The current cryptovolta market is divided into traditional firms that were limited to trading derivatives in bitcoin traditional markets like CME, and cryptovoltaic firms that traded in a variety of markets," said Acuiti Managing Director Will Mitting.
He noted that there is a mismatch between the demand of such traditional firms to expand their presence in the cryptographic market and the desire of service providers to provide this opportunity. In addition, Acuiti concluded that firms that trade on different cryptovoltaic exchanges generate more profits than those that only trade on one or two platforms.
Therefore, in order to ensure large-scale adoption of cryptov currencies, clearing firms and other service providers need to present their offerings in a variety of markets. However, it turned out that most service providers refused to provide them with access to a market that was not controlled by local regulators.
Acuiti cited the example of Bitstamp, which has been licensed to provide payment services within the EU and BitLicense, which allows it to provide services to New York residents. Researchers believe that such licenses, along with the initiatives of the U.S., UK and EU to create a clear regulatory framework for the regulation of cryptographic activities, will contribute to the development of digital assets and their legal implementation.
Mitting emphasized that trade in digital assets will be fragmented, as it depends on the market structure. The CME and traditional financial derivatives markets will operate in parallel with the regulated digital asset cryptovoltaic exchanges, thus creating a dynamic market for trading.
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