Thomson Reuters: 20% of Financial Institutions to Offer Crypto by 2019
- The survey also discovered a "generally widespread familiarity with cryptocurrencies."
Thomson Reuters has released the results of a survey concerning cryptocurrency trading and financial institutions.
According to the press release, the survey covered more than 400 of its clients, meaning companies that use its services to offer foreign Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term trading. One of these products is Eikon, which is a set of software products that monitor and analyse financial information, including cryptocurrency prices.
Approximately 20 percent of the respondents said that they are considering adding Cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw Read this Term as a trading option for customers within the next 12 months. Of these, more than two-thirds indicated that the move will come in the next 3-6 months.
The press release also said that the survey discovered a "generally widespread familiarity with cryptocurrencies."
Neill Penney, Co-Head of Trading at Thomson Reuters, said: “Cryptocurrency is still a relatively small part of the trading market, but this survey indicates 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 a Toronto-based firm which deals in mass media and information. It is listed on the stock exchanges of Toronto and New York.
The results of the survey echo what we have been seeing in the world over the last six months or so, as increasing numbers of traditional financial institutions have been forced to offer cryptocurrency options to their customers in the wake of massive public demand.
In March, a survey of London traders discovered that ten percent currently held some cryptocurrency, and a larger number intend to buy in the future. The survey also found that the majority of the 1,000+ respondents expect that large firms will increase their involvement in the industry in the near future. The recent findings of Thomson Reuters support these findings.
Thomson Reuters has released the results of a survey concerning cryptocurrency trading and financial institutions.
According to the press release, the survey covered more than 400 of its clients, meaning companies that use its services to offer foreign Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term trading. One of these products is Eikon, which is a set of software products that monitor and analyse financial information, including cryptocurrency prices.
Approximately 20 percent of the respondents said that they are considering adding Cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw Read this Term as a trading option for customers within the next 12 months. Of these, more than two-thirds indicated that the move will come in the next 3-6 months.
The press release also said that the survey discovered a "generally widespread familiarity with cryptocurrencies."
Neill Penney, Co-Head of Trading at Thomson Reuters, said: “Cryptocurrency is still a relatively small part of the trading market, but this survey indicates 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 a Toronto-based firm which deals in mass media and information. It is listed on the stock exchanges of Toronto and New York.
The results of the survey echo what we have been seeing in the world over the last six months or so, as increasing numbers of traditional financial institutions have been forced to offer cryptocurrency options to their customers in the wake of massive public demand.
In March, a survey of London traders discovered that ten percent currently held some cryptocurrency, and a larger number intend to buy in the future. The survey also found that the majority of the 1,000+ respondents expect that large firms will increase their involvement in the industry in the near future. The recent findings of Thomson Reuters support these findings.