BlockNews.com
  • Crypto
  • NFT
  • Metaverse
  • DeFi
  • Business
  • Technology
  • Opinion
  • Guides
No Result
View All Result
SUBSCRIBE
BlockNews.com
  • Crypto
  • NFT
  • Metaverse
  • DeFi
  • Business
  • Technology
  • Opinion
  • Guides
No Result
View All Result
BlockNews.com
No Result
View All Result
Home Business

Crypto Exchanges Benefit from US Banking Crisis: JPMorgan

BlockNews Team by BlockNews Team
March 27, 2023
in Business, Crypto, Finance, Media
Reading Time: 3 mins read
A A
JP Morgan
1
SHARES
11
VIEWS
Share on TwitterShare on Reddit
  • The collapse of three major banks in the US may have opened up an opportunity for crypto exchanges all over the world, according to JPMorgan
  • Tether took the chance and captured larger market shares
  • According to JPMorgan, the current financial problems in the US may persuade European and Asian regulators to work alongside crypto platforms in the future

As the US banking sector undergoes a period of uncertainty following the collapse of Signature Bank, Silvergate Bank, and Silicon Valley Bank, JPMorgan has suggested that some crypto exchanges could benefit from the crisis. With most participants in the fintech industry turning to stablecoins as a popular alternative for moving money around, trading volumes have surged significantly since Silvergate Bank announced its liquidation on March 8.

You might also like

Crypto Firms Jockey for Hong Kong Licenses Ahead of June 1 Retail Opening

Tether partners with CityPay.io to expand its reach in Georgia.

Wall Street Prepares To Take On Established Crypto Companies

Tether (USDT) has been particularly successful in capitalizing on this market opportunity and capturing larger market shares within cryptocurrency trading networks. According to JPMorgan’s research team, different crypto firms have had widely varying experiences of this banking crisis, with companies with numerous banking partners emerging relatively unscathed compared to those without such diverse portfolios being significantly affected by the recent closures.

The banking crisis presents an opportunity for some exchanges to offer banking services to investors and crypto-native firms and provide an extra layer of security for the stability of the stablecoin market, which requires efficient, fast, and secure transferral of fiat currency between market participants.

Regulators in Europe and Asia are likely to be more open to working with crypto exchanges, which may result in more significant activity within these regions later this year. However, new banks must be established quickly to ensure continuity within the broader cryptocurrency ecosystem.

Other Possible Factors That May Trigger Crypto Mass Adoption

The recent banking crisis in the US has made people aware of the potential of stablecoins, and other forces are driving the widespread adoption of cryptocurrencies. Covid-19 has resulted in a surge in online transactions, creating an environment conducive to crypto transactions as they are faster, cheaper, and more secure than traditional payment methods.

Additionally, institutional players such as hedge funds and asset managers have been showing greater interest in cryptocurrency investments which bring with them capital, infrastructure, and know-how that can improve its liquidity, stability, and transparency.

The emergence of decentralized finance (DeFi) protocols has expanded the use cases for cryptocurrencies beyond simple payments or stores of value. Examples include decentralized exchanges, lending platforms, and prediction markets, which offer new ways for investors to earn yields, hedge risks, and participate in governance without requiring central intermediaries.

Finally, there’s growing awareness about blockchain technology – what underpins cryptocurrencies – as more use cases for it emerge, such as supply chain management, identity verification, and digital voting, which could bring cryptos into mainstream adoption providing new opportunities for innovation and collaboration within the tech industry.

As the US dollar continues to lose its value, it may persuade many people to realize the value that Bitcoin potentially brings – all without the control of the banks.

Tags: BusinessescryptoCrypto ExchangesJPMorganUS
TweetShareShare

Recommended For You

Crypto Firms Jockey for Hong Kong Licenses Ahead of June 1 Retail Opening

by BlockNews Team
June 3, 2023
0
crypto firms china

China is taking the step forward to become a crypto hub and is soon to release retail trading. Hong Kong’s retail trading regime is days away from going...

Read more

Tether partners with CityPay.io to expand its reach in Georgia.

by BlockNews Team
June 3, 2023
0
citypay.io

Tether joins Binance in taking advantage of crypto-friendly Georgia by partnering with the payment system, CityPay. Tether’s growth could be partially attributed to the decline of its competitor,...

Read more

Wall Street Prepares To Take On Established Crypto Companies

by BlockNews Team
June 3, 2023
0
wall street

Wall Street's traditional financial giants are entering the crypto space to offer dependable platforms for institutional investors and challenge the dominance of established exchanges. By developing their digital...

Read more

What The ‘Anti-Mining Bill’ Means For The Crypto Industry In Texas

by BlockNews Team
June 3, 2023
0
texas anti mining bill

Protesters assemble to oppose Senate Bill 1751, which seeks to eliminate tax incentives for crypto mining businesses, causing controversy in Texas, a major participant in cryptocurrency regulation. Mining...

Read more

Bank of Japan Releases CBDC Report and Launched Its Pilot Program As Other Countries Gain Steam

by BlockNews Team
June 3, 2023
0
bank of japan

With the introduction of its CBDC pilot program, the Bank of Japan set the bar high as interest in central bank digital currencies develops globally. The Bank of...

Read more
Next Post
mark cuban

Mark Cuban Slams Gold Hoarders, Defends Bitcoin

Related News

Ethereum-Price

Ethereum Price Prediction – ETH Is Poised For Crazy Gains If This Pattern Repeats Itself

October 13, 2022
Renowned MMA Champion Nate Diaz Shares His Opinion on NFTs

Renowned MMA Champion Nate Diaz Shares His Opinion on NFTs

May 6, 2022
bnb token

Binance’s BNB Chain Thrives from Staggering Growth Despite Bear Market

February 7, 2023

Browse by Category

  • Breaking News
  • Business
  • Crypto
  • DeFi
  • Finance
  • Gaming
  • Guides
  • Investing
  • Media
  • Metaverse
  • NFT
  • Opinion
  • Politics
  • Social
  • Technology
  • Uncategorized
BlockNews.com

BlockNews.com brings you the most important Crypto and NFT news in the space.

CATEGORIES

  • Breaking News
  • Business
  • Crypto
  • DeFi
  • Finance
  • Gaming
  • Guides
  • Investing
  • Media
  • Metaverse
  • NFT
  • Opinion
  • Politics
  • Social
  • Technology
  • Uncategorized

RECENT POSTS

  • Crypto Firms Jockey for Hong Kong Licenses Ahead of June 1 Retail Opening June 3, 2023
  • Tether partners with CityPay.io to expand its reach in Georgia. June 3, 2023
  • Wall Street Prepares To Take On Established Crypto Companies June 3, 2023

© 2022 BlockNews.com - Crypto and NFT news website by JRNY Club.

No Result
View All Result
  • Home
  • Crypto
  • NFT
  • Metaverse
  • DeFi
  • Business
  • Technology
  • Opinion
  • Guides

© 2022 BlockNews.com - Crypto and NFT news website by JRNY Club.

Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?