March 11, 2019
Lionel Fournier, chief executive of BitSpread Financial Solutions, recently told [WEALTH BRIEFING] that the crypto-currency and associated markets are maturing, with more significant players entering the field.
"As we enter into a much more mature phase of the market, we are witnessing an increasing professionalisation of markets for crypto-assets, which is, in turn, drawing in large incumbent firms and the institutional capital which they command," he said.
"To name but a few examples of this institutionalisation of crypto markets, JPMorgan just launched their own coin. Fidelity Investments (one of the five largest financial service providers in the world) has launched a crypto-currency trading and storage platform, geared towards enterprise clients. Elsewhere, Intercontinental Exchange (the parent company of the New York Stock Exchange) is preparing to launch its own platform, which aims to offer all manner of crypto-currency related services, in addition to trading and warehousing," Fournier said.