Crypto and the Inevitable Future of Banking Services
Read time: 8-10 mins
From rapidly rising valuations to a sudden fall (and some relief recovery), from an exchange-only asset to gradual acceptance across commercial transactions, from being entirely unregulated to potentially being banned in certain countries, from select ownership base (early adopters) to mass ownership, from making new-age millionaires to an overnight valuation wipeout (FTX) – cryptocurrencies have been the undisputed newsmakers in 2022. While opinions may still be divided, one thing is certain - cryptocurrencies are here to stay and will continue to make inroads, redefining the currency ecosystem.
In this paper, we make a case for banks and financial institutions to embrace the crypto revolution and for regulators to provide governance frameworks. We present some use cases on getting started and call out regulators to lead the way and provide a minimum but required oversight. Furthermore, we explore how organizations can enable a digital wallet solution by understanding the key crypto offering tenets and how they can deliver a superior customer experience in interactions between cryptocurrencies and traditional financial assets.
Download our white paper to learn more.