- Dubai bank Emirates NBD has issued a warning against crypto investments.
- The bank issued the warning during its recent mid-year update.
- Also, the bank cited high volatility and market uncertainty as primary risk factors.
Dubai-based bank Emirates NBD (ENBD) cautioned customers on crypto investments. Notably, the bank issued the warning during its recent update webinar.
Also, the warning was due to the volatile nature of BTC and other cryptos. In fact, the bank’s head of asset allocation and quantitative strategies Georgio Borelli noted, “The digital currencies volatility must subside for its broader adoption within finance.”
The banker added that for institutional investors and fund managers to adopt crypto, the high level of volatility has to subside first. However, Borelli also accepted that the volatility and risky nature of crypto is part of its appeal. Borelli made the comments at the bank’s Global Investment Outlook 2021 webinar.
However, despite the high volatility, crypto use has surged this year. In...