The emergence of crypto banking: who is poised for success? | Venture Capital | Fintech... - 1 views
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Latest figures put the value of the cryptocurrency market at almost $240bn in 2019, nearly double the 2018 figure of $128bn. Could this mean that the global crypto market is starting to move into the mainstream? Significantly, the sector is enjoying rapid growth globally, with the UK, Nigeria, Australia, Canada, Mexico and India all experiencing a recent surge in users. Crypto is also starting to attract interest from institutional investors, which see it as possible insurance against the global rise in quantitative easing.
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hichamachir on 13 Feb 21Pula can let successful farmers use cryptocurrencies which will make the company even more digitalized. I know that small scale framers will mostly not understand the concept of cryptocurrencies that's why it can be optional. The idea is to let big farmers that have some cryptocurrencies use it for Pula's service.
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The big banking brands have shown little interest in cryptocurrency to date. In part, this is due to their general aversion to high levels of risk and an institutionalised culture ill suited to digital change and innovation – but there is also a legitimate fear that they will fall foul of financial regulators.
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It stands to reason that cryptocurrency exchanges are well positioned and strongly motivated to exploit the narrowing gap between crypto and fiat – because they have first-move advantage. Having already built huge cash reserves and crypto-familiar customer bases, it would be relatively straightforward technically for them to add on banking services.
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M-Pesa could target a new market which is a currency exchange and more specifically cryptocurrencies. This strategy could allow boosting the revenue streams of the company as cryptocurrencies are becoming more used.
