20% Of Financial Institutions Could Begin Crypto Trading In 2018, According To Survey

A new survey by Thomson Reuters said that a fifth of all the financial institutions could soon get off the fence and start with crypto trading in 2018 – in different time durations. Most of them (70%) expect to launch the cryptocurrency trading this year, while 22% of them provided a different time horizon for the upcoming period.

By polling more than 400 clients across the trading solutions owned by Thomson Reuters such as Eikon, REDI and FX platforms, the director of strategy and innovation took some time to talk with CCN – directly from Zurich, Switzerland.

It seems like the Bitcoin fever finally hit the market – and companies are responding well. Even though there is some speculation that Goldman Sachs may launch a desk specialized in crypto trading in 2018, Chadwick did not want to comment on them or their clients surveyed.

What he pointed to is the number of ways in which financial institutions could gather up and begin cryptocurrency trading, saying:

“Whether they invest in the capabilities, form partnerships or quietly white-label, we don’t know. But there are different ways they .. new product without too much heavy lifting?”

Another interesting thing from Chadwick was his stance on the altcoin market, which seems to extend beyond just the top 10 cryptocurrencies – and is a serious part of crypto trading in 2018 too. As he said:

“One of the questions on our survey was if we were to cover cryptocurrency pricing and trading, which ones would you be interested in? The big ones were named, but then it was interesting to see some of the altcoins that people picked. It drew me to think about whether players are thinking about creating fund offerings in which you’re not 100% to bitcoin or 50/50 bitcoin/Ethereum. But you could actually hold a portfolio of 10-20 coins that would diversify your risk given the fact that these are startups.”

In the end, the financial institutions that were surveyed seemed less interested in privacy coins (Zcash, Monero etc.) and more interested in overall ICOs.