“We have ended up with digital market infrastructure that resembles spaghetti,” said Hirander Misra, our Chairman and CEO said in a recent Bloomberg article. “Added to this fact is that financial institutions such as banks have differing views on #tokenization and use of public, private or both types of blockchains.”
The cascading chaos triggered by the failure of unregulated or lightly regulated crypto players like FTX may have helped create a new opportunity for traditional Wall Street firms. In a recent EY-Parthenon survey of institutional investors, “regulatory clarity and oversight,” as well as “proven and trusted financial entities to interact with,” were ranked as the two most-important factors when making a significant investment in digital assets.
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