Contrary to the widespread notion that the cryptocurrency realm consists primarily of new startups, a closer look reveals a different reality. This is because most of today’s leading crypto businesses are intricately woven into the fabric of established financial systems. Their existence and growth are often underpinned by the support and collaboration of some of the world’s most well-established institutions and trusted industry veterans.
From the outside looking in, this intriguing intersection represents a thoughtful melding of the security, reliability, and regulatory experience of traditional financial (Trad-Fi) institutions with the agility, innovation, and technological prowess of crypto. Not only that, but at the heart of this fusion lies a shared vision to reshape the global economic paradigm.
For instance, trad-fi giants, recognizing the untapped potential and growing relevance of digital currencies, have for a long time been extending their expertise and resources to foster this new domain. On the other side, crypto businesses have been leveraging these partnerships to access a wealth of experience in navigating complex regulatory environments, managing large-scale financial operations, and understanding the nuanced needs of global investors.
Trad-Fi Giants Behind Crypto’s Rapidly Evolving Frontiers
The aforementioned synergy of the Trad-fi realm with the digital asset market is best exemplified by a large number of firms such as Multibank.io, EDX Markets, Coinbase, and eToro. EDX Markets, for instance, is backed by leading VCs such as Citadel Securities, Fidelity Digital Assets, and Charles Schwab Corporation, among others.
Similarly, during its early years, Coinbase received significant investments from institutions like Union Square Ventures and Andreessen Horowitz. Lastly, eToro, which began its journey in 2007 as a forex trading platform, eventually integrated cryptocurrencies into its investment portfolio and secured substantial funding from various global investors, many with a foothold in traditional financial markets.
However, leading the charge in regard to this narrative is the MultiBank Group, one of the largest players in the derivatives market today. Since its market debut, the MultiBank Group has expanded its global influence significantly, operating 25 offices worldwide while serving over a million active customers. Notably, it boasts an average daily trading volume of $12.1 billion.
Most recently, the firm debuted its digital asset trading platform ‘Multibank.io,’ thus marking a significant stride for the group and its dedication to addressing the often-complex regulatory landscape pervading the crypto industry. One of Multibank.io’s standout innovations is its ‘Panic Sell’ feature. The tool, as the name suggests, is designed to empower traders, allowing them to swiftly liquidate their positions into cryptocurrency or fiat currency at the click of a button. This feature is particularly valuable in fast-paced, volatile market conditions, enabling traders to make prompt decisions and manage risks effectively.
Lastly, with a substantial paid-up capital exceeding US $322 million and with the firm holding more than 14 international licenses (including prominent ones like ASIC, AUSTRAC, BAFIN, CIMA, ESCA, FSC, FMA, MAS, TFG, and VFSC), Multibank.io and the MultiBank Group have solidified their position as pioneers in blending traditional financial robustness with innovative crypto trading solutions.
A Look at the Future
As things stand, the future of the crypto industry seems to be marked by optimism and potential growth, with significant indicators pointing towards an upward trajectory. For instance, over the course of 2023 alone, the digital asset industry’s total market cap grew by over 100%, with many analysts predicting this trend to continue in the near to mid-term, especially with the Bitcoin halving and Blackrock ETF approval looming large on the horizon.
Therefore, as the market continues to evolve, the role of traditional financial institutions will become increasingly crucial in the long-term growth of the digital asset sector. In this regard, entities like Multibank.io and EDX Markets are working toward integrating the innovative aspects of cryptocurrencies with the stability and regulatory frameworks of traditional finance. Interesting times ahead, to say the least!