The recent weeks saw blockchain technology move another few steps closer towards broader adoption with Coinbase shooting above a $112bn valuation in the trading debut on Wednesday and the recently-launched PayPal’s ‘Checkout with crypto’ service. Rather than crashing hard, as some observers predicted, digital assets appear to be making a fundamental shift in the world of finance. The question many might be asking—what’s next?
The cryptocurrency exchange platform’s Coinbase IPO debut, which took place on Wednesday, marks it as the first company of its kind to go for public trading. As the exchange platform tokens were seen getting a significant boost prior to the public announcement, many expected it to attract a number of institutional and corporate investors, who support crypto, showing a long-haul buy-in, while potentially setting an example for other crypto entities to go public.
“It’s been phenomenal to see how the digital asset world has been shifting into traditional finance and be in the middle of it,” says Vytautas Zabulis, CEO of H-Finance, a company offering regulator-compliant digital asset trading solutions. “These ongoing shifts show that digital assets are confidently moving away from being considered a niche asset class, becoming a part of mainstream finance. People, especially the younger generation, are getting involved in the trading industry, too, which only reaffirms the point.”
Right behind another impressive Bitcoin surge of over $64,800, Binance Coin (BNB) is making moves worthy of as much attention. Mr. Zabulis notes that due to higher-than-average Ethereum fees, Binance is able to pick up a lot more traction. BNB currently sees extremely high trading and transaction volumes, and the token price increased 15 times from the end of January. Binance smart chain, while it draws some criticism for not being truly decentralised, might be a real competitor to Ethereum.
With so much happening in the crypto sphere there is a growing interest by both retail and institutional investors to start playing a more active role in trading these assets. Unfortunately, getting into the subtleties of digital asset trading is not as simple for someone, who just entered the world of trading, observes Mr. Zabulis.
“Now that Coinbase went public and BNB is seeing a 1500% surge, coming right behind Ethereum, we’d been getting a lot more requests, regarding digital asset trading,” explains Mr. Zabulis. “For someone who’s new to this industry or is looking to start trading digital assets, a quick and easy-to-navigate regulated solution is key. What H-Finance offers is exactly that.”
Traditional finance and/or Fintechs could offer their customers the simplest way to trade digital assets by integrating a native API into an already-existing infrastructure—no third-party applications or new accounts needed.
Coinbase’s offering could be a potential pivotal moment for cryptocurrencies, alongside the continuing popularity of NFT trading and the exponential growth of Binance coin. As the financial world moves towards embracing digital asset trading, newcomers to the trading world look for easier solutions that would be as familiar as making transactions.
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