For more than a year the crypto industry has been working on attracting institutional investors to the crypto market. However, this work is not easy. The lack of reliable depositories and the unflattering position of the SEC over cryptocurrencies seriously warn major players from entering the market.
But the situation is changing. More and more former bankers are becoming cryptocurrency investors, while large banks hire blockchain specialists, as well as provide services related to cryptocurrencies.
Banks, in general, positively look at cryptocurrencies, but the opinion of executive directors of the largest financial institutions varies slowly.
Ryan Taylor, CEO of Dash Core Group, is one of those many examples, when a man, doing a career on Wall Street, abandoned the world of financial giants for the sake of blockchain. Before he was the analyst of $20 billion hedge fund of one New York firm, but later he saw giant potential of crypto market. And now he is a director of Dash Core, the company that created cryptocurrency, time of confirmation of the transaction at which does not yield Visa or Mastercard.
He notes that in their movements towards cryptocurrencies institutional investors still need to be extremely cautious. In an interview with NewsBTC, he said:
“Financial institutes – it on the essence machines for the calculation of risks. Their business model fully depends on risk management. Because of it, I recommend them more neat to enter on a cryptocurrency market”.
He also added that it is necessary to create a favorable regulatory climate specifically for institutional investors, otherwise their exit to cryptocurrency market will be long.