Twenty percent of financial firms are looking to get involved with cryptocurrency in 2018 according to an industry poll conducted by Thomson Reuters, a Canadian multinational mass media and information firm. The company surveyed over 400 of its customers, which include users of the Eikon, REDI, and FX platforms, and the majority of those who are considering trading said they intended to do so over the next 3-6 months.
Thomson Reuters’s shares are listed on the Toronto and New York Stock Exchanges, and it has been operating in more than 100 countries for over 100 years.
Historically, the banking sector has been notoriously dismissive of the crypto market. Cryptocurrency has been often called a bubble, pump-and-dump scheme, and an asset for criminals. But today’s survey demonstrates that financial institutions may be changing their views to the opposite.
In the words of Neill Penney, the co-head of trading at Thomson Reuters:
“Cryptocurrency is still a relatively small part of the trading market, but this survey makes clear this niche segment is starting to enter the mainstream of the financial services industry. This is a major change from a year ago.”
Thomson Reuters is well-positioned to deliver solutions that address client demand in the growing cryptocurrency market. Being a leading provider of news, data, and trading capabilities, Thomson Reuters’ Eikon desktop platform provides prices for Bitcoin and altcoins. Among other new capabilities, its MarketPsych indices now includes the first sentiment data feed for Bitcoin.
Thomson Reuters’ survey comes after the Goldman Sachs’s announcement about the hire of a former trader Justin Schmidt who will head the multinational company’s digital assets.
There are other signs of institutional trading interest in cryptocurrencies as such Wall Street fat wallets as George Soros and Rockefeller look to conquer the new crypto markets.
Sign up for our newsletter
and don't miss out great opportunities to monotize on your bitcoin