Traditional finance is often viewed as the antithesis of bitcoin and cryptocurrencies. However, there should be, and needs to be, an overlap between the two worlds. The retail market was the driver of the 2017-2018 bull market, but the institutions will be the ones to drive the current one.
Our financial systems are antiquated, at best. No one knows this better than those working within them. They are in need of a huge overhaul and will receive that in the form of bitcoin and a digital revolution.
Eva Lawrence is the COO of Arcane Crypto AS, a bitcoin and digital asset focused company listed on Nasdaq First North, building the financial and payments system of the future. Eva was previously at Morgan Stanley for eight-plus years, most recently as a trader and Head of EMEA Flow Trading in Securities Lending.
We have seen significant players from the traditional finance sphere starting to recognize this paradigm shift. Morgan Stanley is considering betting on bitcoin with its $150 billion investment arm. BNY Mellon and Deutsche Bank are offering crypto custody. And JPMorgan concedes it will have to be involved in bitcoin. Banks are receiving interest from their clients, seeing the gap in their offering and not being involved is now too much of a risk.