It seems that a growing number of Asian institutional investors which comprised mostly of high-net-worth individuals and family offices are showing interest in the emerging asset class.
This increasing interest can be attributed to the gloomy macroeconomic outlook of world economies, as well as, the entry of the highly influential Facebook into the cryptocurrency space who plans to release its own cryptocurrency Libra.
More interest was generated when news broke out that China’s central bank is looking into creating its own digital currency further stoking more interest in cryptocurrencies.
Chief investment officer at BBshares, Jett Li, reveals that the demand for secure and efficient institution asset allocation into crypto is strong adding that most of the demand coming from the past four months after news broke about Facebook’s Libra project and bitcoins seeming bull run.
While it is clear that there is demand from institutional investors the same problem persists across the globe, lack of banking services willing to services the nascent industry, regulatory concerns as well as custody solution.
However, these concerns are slowly being addressed in different fronts, governments are slowly opening up to the emerging asset class with more progressive policies and regulations, more banking services are available to crypto-related businesses and institutional grade custody solutions are increasing by the day.
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