According to the data of the analyst company Acuiti, for the nearest two years many companies, trading traditional assets, will enter cryptocurrency market, what will contribute to the development of digital currencies.
In the research, which was conducted together with the Bitstamp exchange and the Chicago Mercantile Exchange (CME), participated companies, trading both traditional financial assets and cryptocurrencies. Today the level of cryptocurrencies introduction is low enough — just one of five traditional firms trades Bitcoin, Ethereum and other altcoins.
However, among such organizations we see growing interest in the cryptocurrency market, because they consider an opportunity to become its participant or expand their presence on it with an aim to cover larger number of assets. 97% of companies, trading traditional assets, are ready to enter cryptocurrency market within 2 years, and 45% of them will consider this step in the next six months.
“The current cryptocurrency market is divided into traditional firms, which limited themselves to trading derivatives on BTC in traditional markets like CME, and cryptocurrency firms trading in various markets,” — Acuiti managing director Will Mitting claimed.
He noted that this creates a discrepancy between the demand of such traditional companies for expanding their presence on the cryptocurrency market and the desire of service providers to provide them with this opportunity. In addition, Acuiti concluded that companies, trading on various cryptocurrency exchanges, get much income in comparison with those, that trade only on one or two platforms.
That is why, to provide large-scale implementation of cryptocurrencies clearing firms and other service providers have to offer their products / services on different markets. However, as it turned out, most service providers refuse to provide them access to a market that is not controlled by local regulatory authorities.
Mitting has stressed that digital assets trading will be fragmented, because it depend on a market`s structure. CME and traditional financial derivative markets will operate in parallel with regulated cryptocurrency exchanges of digital assets, thereby forming a dynamic market for trading.