The cryptocurrency market is slowly entering the mainstream channels, as major banks claim that more people are asking for crypto-related services. This shows that customer interest in cryptocurrencies remains strong.
Many Financial Organizations Are Facing the Challenge
Representatives from Visa, Macquarie, the Commonwealth Bank, and JP Morgan stated there’s a noticeable change in the consumers’ behavior in relation to digital assets. Many people started requesting more crypto-related services globally.
Sophie Gilder from the Commonwealth Bank of Australia noted that the Bank is working on new products for retail and industrial investors. Additionally, the Bank received an overwhelming reaction to its launch of the in-app crypto trading feature.
Plus, the Commonwealth Bank is also considering expanding its crypto and blockchain teams in the following months, as it’s boosting investment in this industry.
Still, since the Bank started its investments, the major cryptocurrencies such as Bitcoin and Ethereum have dropped by around 30%.
Other people from the fintech industry in Australia are also aware of the importance of digital assets, stating it’s already mainstream. According to some data, 93% of Australians are well aware of crypto at the moment.
At the moment, larger cryptocurrencies are struggling to keep their prices due to the war in Ukraine.