Banks Involved in Crypto Investment
Banks have shown interest in cryptocurrency investing. Cryptocurrencies were originally developed to be institutionally free, so what would the entry of these new players mean for the cryptocurrency market?
According to Peura, the involvement of banks is an opportunity, as large economic actors bring reliability, visibility, and improved availability of crypto.
"Many Finns may have a large threshold to use new services, but if their bank offers the opportunity to invest in cryptocurrencies, it will bring more investors. Thus, cryptocurrencies will continue to increase in value," Peura says.
The crypto platform Coinmotion has been operating since 2012. Coinmotion is happy to welcome banks to the cryptocurrency market and does not see banks as a threat to their business.
"Banks are not a realistic threat, as Coinmotion has a great deal of experience in the industry and a lead in developing services compared to banks. Instead of competition, we should increase cooperation, which will improve the movement and availability of crypto with the entry of banks," Peura says.
Read more about cryptocurrencies in our beginner's guide.