Major US companies are preparing to launch their cryptocurrency platforms

According to the Financial Times, the largest traditional financial organizations in the United States, including Standard Chartered, Nomura, and Charles Schwab, are developing their own cryptocurrency trading platforms.

There is definitely a point in launching their own cryptocurrency firms for Wall Street giants, as investment companies and asset managers continue to be interested in investing in cryptocurrencies, the publication’s experts emphasized. If a large financial player with a big name launches its crypto platform, it will be able to raise significant funds.

«Large traditional institutional investors who have been in the market for a long time and have developed a lot of connections probably want to deal with counterparties that have been around for years and are regulated in a traditional way ,» explained Gautam Chhugani, senior digital asset analyst at Bernstein.

A recent survey of 250 asset managers conducted by Ernst & Young, a division of the consulting firm, showed that about half of the respondents would refuse the services of «native crypto» firms and transfer funds to a platform launched by a traditional financial organization. 90% of respondents said they would entrust such firms with the storage of their digital assets.

Experts of the publication emphasized that large traditional financial companies usually make more transparent platforms, which is also important for institutional investors.

At the beginning of the year, it was reported that the US Securities and Exchange Commission had launched an audit of Wall Street financial advisors for the provision of digital asset storage services.