TradFi interest in crypto continues to rise amid an uptick in regulatory actions by the U.S. government

TradFi interest in crypto continues to rise amid an uptick in regulatory actions by the U.S. government crypto cryptocurrency Web3

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“The sentiment is overall a positive one and many companies are taking advantage of the bear market by building,” Schwed said. When it comes to the areas of the crypto ecosystem that are proving to be the most attractive to executives in traditional finance , Schwed pointed to the transparency offered in decentralized finance as being “incredibly intriguing for TradFi as well as the ability for projects to create new financial products and instruments in the DeFi ecosystem.

Evidence that the government is slowly opening access to the crypto ecosystem in a controlled manner was demonstrated by the approval for BNY Mellon to begin offering crypto custody to their clients, which Schwed said was a positive sign for the future viability of digital assets. “The mere fact that the largest and oldest custodial bank is now custodying digital assets is a signal that crypto is here to stay,” he added.

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