A big YES from the institutions. Ripple (XRP) sharing encouraging figures in connection with the use of cryptocurrencies by financial institutions. A report published by the company highlights the barriers and levers that penalize or promote this adoption.
Financial institutions that love cryptocurrencies
76% financial institutions plan to include cryptocurrencies in their operations, in the next 3 years, butlack of regulation corresponding residues a the main obstacle.
This quantitative and qualitative data comes from a recent report published by Ripple. This research describes the trends in the use of cryptocurrencies in enterprises. Although this is only declarative for now, more than 3/4 financial institutions would therefore be ready to take the plunge and embrace cryptocurrencies.
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Fraud and inappropriate regulation: the burden of the sector
When asked about the reasons for their hesitancy in the past and present, the respondents mentioned the importance of a appropriate regulatory framework. It is prerequisite to their plunge into cryptocurrencies. Multiple frauds in the sector contribute to the absence of such regulation. This explains the reluctance of financial institutions towards cryptocurrencies.
Although these factors are the main obstacles to the mass adoption of cryptocurrencies by financial institutions, research has shown thatattitude of banks considering the sector can serve as catalyst.
To the question “Would you buy cryptocurrencies through your bank if they offered them? », 65% replied within the affirmative17% with NO, and the rest, 18%, do not have a precise position.
Ecology as a criterion for choosing a cryptocurrency
Ripple’s study also has a green part. She thought about the importance ecological character cryptocurrencies, in their adoption. 21.2% of consumers surveyed would only buy cryptocurrencies that have this sustainable dimension. Operation of the underlying blockchain for consumption little energy.
8.1% he wouldn’t last don’t count of this criterion when buying cryptocurrency. While 14.1% answered with a ” I do not care “ well confirmed.
L’adoption the structure of cryptocurrencies is therefore not hindered by crypto winter cyclical, regardless of the size of the red candlesticks, but due to the main factors, such as rules and scams. To be able to attract large investors, such as institutional investors in decentralized finance, cryptocurrencies and DeFi in general, you may need acceptance of unnatural marriage in regulatory matters.
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