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Institutional investors have maintained their interest in blockchain and cryptocurrencies despite the bear market. This was stated by Irfan Ahmad, head of State Street Bank’s digital division, in
Institutional investors have maintained their interest in blockchain and cryptocurrencies despite the bear market. This was stated by Irfan Ahmad, head of State Street Bank’s digital division, in an interview with the Sydney Morning Herald. April.
According to him, the volatility in June-July did not frighten customers – they made strategic bets on the asset class itself. This shows that he’s “not going anywhere,” Ahmad added.
The top executive also announced State Street’s plans to launch new crypto products in the Asia-Pacific region, including Australia. He did not disclose the details.
State Street is the second oldest bank in the United States. In 2019, Gemini launched a digital asset pilot in partnership with bitcoin exchange.
In late 2020, State Street and financial giant S&P Global spearheaded a $15 million funding round for crypto data provider Lukka.
The bank later announced the launch of a Pure Digital platform for financial institutions and a division focused on DeFi and cryptocurrencies.
In the fall of 2021, the top executives of Fidelity, UBS and State Street expressed their interest in funds based on digital assets and did not exclude the appearance of such products.
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Source: Fork Log
I’m Sandra Torres, a passionate journalist and content creator. My specialty lies in covering the latest gadgets, trends and tech news for Div Bracket. With over 5 years of experience as a professional writer, I have built up an impressive portfolio of published works that showcase my expertise in this field.
