Investors Need 3 Things Before Getting Into Crypto Space
At the panel named” Unlocking Yield in Cryptocurrency Assets-Encouraging Institutions to Enter the Industry,” many of the crypto leaders put their perceptions on the table. They shared their ideas on how to make financial technology available to mainstream financial entities. Members included Managing Director of eToro Group Asia, Jasper Lee; Head of Business Development Asia for Cumberland, Justin Chow; Cheif Business Officer of CoinWitch, Saharan Nair. Besides, co-establisher and CEO of Bybit, Ben Zhou was also included in the panel.
The panel covered the role of institutional investors within the crypto world. And the constraints and challenges investors face in getting into the crypto industry.
3 Things Are the Catalysts
Justin Chow breaks the ice and said:
“Custody, liquidity, and regulations are the top three petitions from institutional investors jumping into crypto.”
The rest of the members agreed with Justin’s statement and stated these are significant factors, suggesting that Institutional interest in investing in crypto is growing faster day by day.
Moreover, DataDash founder, Nicholas Merten raised another point in the debate. He asked the panelist which countries are doing their best to embrace cryptocurrencies. Jasper Lee said, “Which country is better really depends on what kind of business you want to focus on. For example, if you are in retail, you won’t go to Hong Kong. You would probably pick island licenses.”
Ben Zhou added further to it:
“From an exchange perspective, we are focused on retail clients. We are registered in the British Virgin Islands and have our headquarters in Singapore — the Singaporean government is open to crypto and blockchain technology. But I would love to see a framework in the US, at least on how to get a proper license so that we can actually get into the market. We know it’s a huge market, but we can’t touch it.”
Furthermore, Saharan Nair said that regulators have to make cryptocurrencies easy to use, saying, “Regulations have to be designed for what the user wants and needs.”