Cryptocurrencies have proven divisive since their inception, with fintechs leading the way and banks largely remaining on the sidelines. This division is beginning to mend in Asia, where banks are looking at how they can find a place for crypto assets within the heavily-regulated sector, and fintechs are beginning to develop a track record that makes them more reliable in the eyes of the regulators and investors alike.
Banks are assessing where their place in the ecosystem lies. Alex Manson, head of SC Ventures at Standard Chartered, says: “Banks can bring a lot to the table. We have an industry in the process of maturing and gaining institutional acceptance. Banks are used to bringing robustness and safety, operating in a highly regulated market. It is in our DNA when developing this infrastructure for crypto expansion.”
