Crypto Talk | Fidelity Investment, BNY Mellon’s foray into crypto a boon, not bane: Giottus Crypto
Big financial institutions such as Fidelity Investments’ foray into the cryptocurrency market is a boon rather than a bane for the asset class and will aid in building the ecosystem further, according to Vikram Subburaj, CEO, Giottus Crypto Platform.
“As more traditional financial institutions enter the crypto market, it validates the industry’s legitimacy and attracts a more extensive user base,” Subburaj said, adding, “Rather than perceiving this as a threat, we view it as a positive development that validates the potential of the crypto market.
In an interview with ETMarkets, Subburaj also spoke about the confluence of opportunities and challenges in the crypto market, and Giottus’ business growth plans. Edited excerpts:
What challenges and opportunities do you see in the cryptocurrency market, both globally and in the context of India’s regulatory developments, in the coming years?
In the crypto market, both globally and in India, we anticipate a confluence of challenges and opportunities.
While the adoption of crypto as an asset class continues to rise, driven by increased interest from both retail and institutional investors, regulatory developments in different countries play a pivotal role in shaping the technology’s future.
In India, as regulatory clarity evolves, it is clear that crypto is here to stay. The primary challenge lies in aligning the government’s stance with a user-friendly environment for crypto enthusiasts.
