Institutional interest in crypto is growing, confirmed by a Goldman Sachs (NYSE:GS) survey, which found that 40% of the company’s high-net-worth clients were already exposed to cryptocurrencies. Stablecoins — which offer a more secure and steady option in the crypto space — have experienced hyper-growth, reaching a $119 billion market cap. The volatility of crypto has attracted more conservative investors to asset-backed stablecoins.
Stablecoins are a form of private money. As Christina Segal-Knowles, executive director for financial markets infrastructure at the Bank of England, points out, modern money is a combination of public and private funds, up to 95% of which in developed economies is private. She adds:
Jane Thomason is a thought leader on Blockchain for Social Impact. She holds a Ph.D. from the University of Queensland. She has had multiple roles with the British Blockchain & Frontier Technology Association, Kerala Blockchain Association, Africa Blockchain Centre of Excellence, UCL Centre for Blockchain Technology, Frontiers in Blockchain, and Fintech Diversity Radar. She has written multiple books and articles on Blockchain. She has been featured in Top 100 Women in Crypto, Top 10 Digital Frontier Women, Top 100 Fintech Influencers for SDGs, and Top 50 Global Thought Leaders and Influencers on Blockchain.