Ripple- a Crypto Solutions for the Business company report that 76% of financial institutions plan to use crypto in the next 36 months. However, the majority of these entities said they would delve deeper into the industry, assuming an appropriate regulatory framework was in place.
When asked why they still haven’t joined now, most said it was due to the lack of proper regulations, as well as the many scams that have occurred in recent times.
Another factor that will drive crypto adoption is banks and their attitude towards the sector. 65% of respondents admitted they would be more inclined to invest in bitcoin or altcoins if their bank offered such services.
However, it is worth noting that several monetary institutions have become HOLDERs over the years. 50% said they did so because they see digital assets as an excellent hedge against inflation.
Companies and individuals based in Latin America seem to be most attracted to this industry. 50% of them believe that cryptocurrency will have a big impact on the future economy.
Ripple noted that interest in digital collectibles has “sprung up” over the past few months. However, this market is still in its “early days” and most consumers either don’t understand it.
It won’t be long before the cryptocurrency market will be accepted in most countries for trading Crypto will become one of the forms of diplomacy not only because it can fight inflation but also help promote economic development.
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