The head of Coriolis Technologies, Rebecca Harding, is confident that the giants of the banking industry are ready to work with cryptocurrencies, but they are stopped by legal uncertainty in this area.
Rebecca Harding heads the technology company serving the largest institutions in the world of traditional finance.
A lot of banks “have a healthy curiosity and skepticism” in relation to digital currencies
She also noted that financial companies are beginning to realize the need to invest in crypto and blockchain space. However, they are currently waiting for the moment when legislators and regulators will clarify the legal field.
In order to remain involved in the cryptospace and in demand in their niche, the banks work closely with the new companies from fintech industry. Also, according to her, financial institutions are actively exploring the features of the cryptoindustry and will certainly soon begin to send funds to a new class of assets.
Banks offer tools for cryptocurrencies
Goldman Sachs, Morgan Stanley and Citigroup have already launched products for major players, which are gradually being added to digital currencies. Morgan Stanley has developed an infrastructure for bitcoin derivatives and intends to launch cryptocurrency swaps for total income if there is interest in this tool from institutional clients.
In July 2018 of this year, the Korean news agency Yonhap reported that the country’s commercial banks own Bitcoin and Ethereum for more than $ 2 billion.
Harding stresses that if in the near future, financial institutions will not be able to offer tools for working with digital assets, then over time their business model may become irrelevant.