Despite the massive market volatility, the mass crypto adoption continues, and there are more and more events taking place in the crypto space that support it. Check out the latest reports about the issue below.
Wall Street to go full crypto
The popular bull Anthony Pompliano believes that the top institutions out there will go all-in on crypto, according to the latest reports.
He says that multiple sources claim Wall Street investors and the biggest financial institutions are planning to invest heavily in cryptos.
Pompliano seems to believe that financial institutions are already dedicating a lot of resources to the crypto space with an eye toward the future.
“Regardless of what happens to price in the short term, one thing is for certain. The big financial institutions, they’re here. They’re building teams internally, and they are going all-in on Bitcoin and crypto. That might not actually help the price in the short term. But that tells me over a long period of time, this industry is not going anywhere.”
He said that a flood of investment from financial institutions could follow regulatory clarity. He addressed a recent interview he had with David Mercer, CEO of LMAX Grou. He is a global financial technology company.
“Even though we’re in this deep bear market, there are institutions that are chomping at the bit ready to get back into the game…. [Mercer] said that the six major banks, they’re ready to go as soon as they get a green light from the regulatory environment.”
More on crypto adoption
According to the latest reports coming from CoinDesk, Singapore’s central bank, the Monetary Authority of Singapore (MAS), has granted Coinbase in-principal approval for a DPT license to operate in Singapore the company said in a press release.
According to the same reports, including Coinbase, MAS has given out 17 in-principle approvals and licenses for DPT platforms under the Payment Services Act.