In 2021, banks will start integrating cryptocurrency into their system and create custodial wallets for storing and using digital currencies.
The boundaries between traditional finances and cryptocurrencies will be emitted
According to the research of Xangle and Hanhwa, this year will be observed the convergence of the market for traditional finance and cryptocurrency sector. First of all, it will be manifested in the integration of digital currencies in the banking system. According to analysts, Xangle, already in 2021, banks will begin to create custodial wallets with cryptocurrency support in order to provide users with simultaneous access to both digital assets and fate money.
To ensure the safety of user data, as well as control the turnover of cryptocurrencies in the world, banks and cryptocurrency companies will tighten the requirements for users in identifying identification.
More and more cryptocurrency exchanges, exchangers and R2P platforms will require climbing the KNOW Your Customer (Know Your Customer). On the same way, traditional banks will go on the same way, since it is through them that most of them is washed away, stolen in the world.
Also in the current year, the blockchain will be engaged in developing analytical services to track transactions by traditional banks to avoid money laundering. According to Ciphertrace's research, most banks working in the world do not understand the nature of cryptocurrency transactions, and therefore cannot adequately analyze and block them.
Note that Ukraine is already on this path. Last year, the Ministry of Culture and Blockchain Crystal signed a Memorandum of Cooperation, within which they will work on creating and implementing analytical tools that will allow control and block suspicious transactions.
Institutional investors will invest in Bitcoin
Researchers believe that in 2021, large corporate and institutional investors will invest in Bitcoin. Microstrategy, GrayScale and Tesla filed an example, which other corporations will take advantage. Note that such a point is separated not all. For example, the editorial office of Beincrypto has previously reported that JP Morgan does not believe in the bobcin's patience due to its volatility.
The activity of institutional investors will lead to the US Securities Commission (SEC), will most likely meet and give permission to register the first ETF on the territory of America. It should be noted that in 2020 SEC refused the financial firm Wilshire Phoenix at the launch of the traded stock fund (ETF) on Bitcoin, referring to problems with fraud and manipulation by the market.
At the moment, major institutional and corporate investors can invest in cryptocurrency only through trusts that are created by such companies as GRAYScale. Last year, the organization launched more than a dozen trusts that allow you to invest in Bitcoin, Ether, Litecoin, Chainlink and a number of defi-tokenes.
According to Xangle analysts, in 2021, institutional investments in cryptocurrencies will increase by 30%, which will push the price of Bitcoin up to new maxima.
The POST banks will begin to take cryptocurrency already in 2021 - the study of Appeared First On Beincrypto.