Digital Assets
Following China, in 2020, dozens of countries announced were developing their own digital currencies or exploring this option. At the same time, regulators tightened control over cryptocurrencies, requiring crypto services to identify users the same way as banks do. As a result, many financial industry players changed directions and focused on creating a hybrid model with digital assets.
Digital Assets
Following China, in 2020, dozens of countries announced were developing their own digital currencies or exploring this option. At the same time, regulators tightened control over cryptocurrencies, requiring crypto services to identify users the same way as banks do. As a result, many financial industry players changed directions and focused on creating a hybrid model with digital assets.
Entering the cryptocurrency market is an opportunity to quickly mobilize a specific, highly profitable audience and significantly increase revenue.
In the upcoming year, it is highly likely that incumbent players will not only develop their own crypto products but also integrate third-party ones. The ability to sustain high loads, scale the solution to the entire client base, and offer traditional products of the financial world (e.g., licenses, certificates, audits) will be important criteria for choosing partner solutions.
In the upcoming year, it is highly likely that incumbent players will not only develop their own crypto products but also integrate third-party ones. The ability to sustain high loads, scale the solution to the entire client base, and offer traditional products of the financial world (e.g., licenses, certificates, audits) will be important criteria for choosing partner solutions.
Digital assets are becoming easier to understand for regular users and entering the mass market segment. However, cryptocurrency adoption directly depends on how quickly operations become available in each traditional bank or payment system.
PayPal
PayPal started offering cryptocurrency transactions to American users.
Facebook
Facebook has done a tremendous job in transforming Libra into stablecoin Diem to still launch its own cryptocurrency in January 2021.
BBVA
BBVA launches a crypto service in Europe. The bank decided to start in Switzerland because of the well-developed digital asset regulation.
Binance
One of the largest cryptocurrency exchanges, Binance, offers payment cards that cashback based on the number of tokens the user has.
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