The Second Wave of Crypto

Are you ready for the second wave of Crypto adoption?

According to debates held on the second day of the Crypto and Digital Assets Summit (hosted by the Financial Times), this wave has potential to hit soon…

Asia-focused banks & financial institutions agree there is a need for more regulatory clarity across the region.

But also more confidence is needed by financial institutions to trigger the “second wave” of crypto adoption across the region.

So what might trigger this wave?

Asia’s regulatory frameworks are heading towards a more beneficial state for investors.

Countries such as Hong Kong & Singapore have stricter regulation but better clarity. As such, Singapore & Hong Kong have seen booming investment in cryptocurrency businesses.

Both host successful cryptocurrency start-ups:

Crypto.com — an integrated cryptocurrency investment platform.

Tether — a stablecoin service provider, incorporated in Hong Kong.

Banks have begun to provide the necessary financial infrastructure to enable crypto’s widespread institutional adoption.

Yulong Liu, Managing Director of Global Partnerships at the Hong Kong-based crypto financial services provider Babel Finance, says:

“We are pretty confident that there will be more clarity in the region … so that we can promote these assets.”

Banks are starting to bring widespread institutional acceptance — technological constraints & lack of willingness & concern over their legacy operations seem to be subsiding.

For example, Singapore-based bank DBS, is currently getting its teeth stuck into projects involving crypto custody services, crypto asset trade, & tokenization.

Crypto is booming globally, but the reluctance from banks has been a thorn in its progress…

But there are indicators that banks are starting to open up the the world of DeFi, & the technology is looking to get another boost of popularity as it pushes its way truly into the mainstream…