solodeji Posted July 15, 2022 Share Posted July 15, 2022 Financial institutions and enterprises have shown significant and rising interest in cryptocurrency and blockchain technology. With proper regulations in place, Ripple, the crypto solutions company, believes that global financial institutions will continue to move forward with crypto adoption at a faster pace. Meanwhile, institutional interests in crypto are centered around portfolio management and payments. Crypto Adoption by Financial Institutions It might interest you to know that financial institutions are no longer sitting on the fence with crypto. In times past, the overwhelming narrative on crypto asserted that 'it is only used for speculative purposes.' Interestingly, the narratives have long changed as global financial institutions and enterprises now see a variety of reasons to embrace crypto and its underlying technology. As revealed in a survey by Ripple, three core rationales propel financial institutions to add cryptocurrency to their portfolio. The first is its widespread use for payments. Secondly, crypto provides a hedge against inflation or other asset classes or could serve as an alternative to bonds. Organizations also adopt crypto because of its use as a bridge currency. "In the US alone, 2,300 organizations like PayPal, Microsoft, Whole Foods, and UNICEF have begun accepting cryptocurrency as a form of payment, and so of course these organizations need to manage cryptocurrency as support for payments (whether they hold it themselves, as some do, or custody through a third party). Some organizations are also now paying employees in crypto," part of the report said Furthermore, the 2022 investigation by Team Ripple reveals that in the next three years (2025), 76% of financial institutions around the globe expect to integrate cryptocurrency into their businesses, assuming government regulations permits. On the other hand, the majority of customers surveyed globally noted that they would buy crypto through their bank if the bank offered it. Also, the report centered on Crypto Trends in Business and Beyond, shows that 70% of global financial institutions and enterprises are interested in using blockchain for payments. Additionally, more than 20% of global consumers said that they would only buy sustainable cryptocurrencies. Therefore, as institutions move forward with crypto adoption, it is hoped that they will prioritize sustainability as a factor in their decision-making. From all indications, there is a universal interest and common agreement that cryptocurrency and blockchain technology will be the propeller of tremendous financial transformations that will bring about numerous benefits to everyone. https://timestabloid.com/76-of-global-financial-institutions-will-use-crypto-in-2025-ripple-forecasts/ Caracappa, DannyRipple, Julian_Williams and 1 other 2 2 Link to comment Share on other sites More sharing options...
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