Watching the digital currency market in recent weeks we can notice the uncertainty of investors and the feverish price movement. In the current situation, that there was a breath of fresh air in the crypto-currency market, institutional investors should come to the market.
However, the process of the arrival of players from Wall Street to the market is delayed, and this is due primarily to the uncertainty about the future of Bitcoin futures and their adoption by the US Securities Commission.
With such words Mike Belsche, head of the BitGo crypto-currency start-up, who at the end of last week launched one of the most promising services for large investors a store for digital assets. His words lead News BTC.
A new product for institutional investors from BitGo was approved by the Department of Banking Services of South Dakota and several other US financial regulators. In its work, the service uses a multi-recording system and will start working in the next month.
For the future, the platform sets itself the goal of obtaining the status of a broker-dealer, and already now their service can interest large investors who need approved and strictly regulated financial instruments.
What does Bitcoin need? Fresh capital, including from large players from Wall Street, but the process of their entry into the market is delayed due to regulatory uncertainty and the lack of reliable financial instruments. Launching and approving our product makes me optimistic about speeding up the process of institutional investors coming to the market perhaps this is the tool that they were waiting for. said Mike Belshe in his interview.