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Crypto Boom: Huge Inflow From Institutional Investors Could Boost The Industry To The Moon

Institutional investors are an essential ingredient for mainstream crypto adoption.

Speaking of adoption, the crypto industry has been making a lot of important moves this year towards the achievement of this considerable goal.

It’s been revealed that thanks to the institutional involvements, the United Arab Emirates will eventually “ratchet up the prolific implementation of cryptos”, says Nigel Green, as reported by the online publication the Daily Hodl.

He is the founder and CEO of the international financial consultancy deVere Group, and he wrote an essay about the merits of crypto and the UAE as a financial jurisdiction.

DIFC business ecosystem registered more than 100 fintech firms

Green says the Dubai International Financial Centre (DIFC), the country’s independent “business ecosystem” governed by a common law framework, recently reached the milestone of registering more than 100 fintech firms.

“This figure shows a three-fold growth in registered fintech companies since the end of last year, representing a steep rise this year as leading regional and global fintech firms opt for the DIFC as their preferred jurisdiction from which to scale their business in this region,” Green said.

He continued and pointed out the fact that “This ongoing rise in trading activity within the cryptocurrency markets highlights heightened institutional participation. Indeed, the cryptocurrency sector is set for further significant expansion in Dubai and throughout the UAE, mainly due to extensive inflows of institutional investors.”

According to Green, UAE managed to complete $210 million in crypto transactions and he believes that there will definitely be more considering that more and more institutional investors are preparing to enter the crypto space before the end of this year.

You should definitely check out Green’s article.

Fireshot Capture 397 Bitcoin Price, Charts, Market Cap, And Other Metrics Coinmarketcap Coinmarketcap.com

Regarding the crypto market, things are looking mixed today, with some coins trading in the green and others in the red.

The most important coin in the crypto space is trading in the red and Bitcoin (BTC) is priced at $8,737.04.


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