Cryptocurrencies could be stored in banks

The development of cryptocurrencies

The rise of cryptocurrencies has been a gradual process, which has taken place in stages. And during which, individuals, companies and governments have learned the advantages offered by Blockchain technology. As well as all the functions that virtual currencies give them.

Thus, since the emergence of cryptocurrencies, with the launch of Bitcoin more than eleven years ago. More and more investors from all over the world have been entering this market. Above all, due to the quality of Bitcoin as an active reserve of value in global markets.

This means that the value of Bitcoin is not directly related to the rises and falls of the world market. On the contrary, when markets enter into crisis, it is normal for the BTC to strengthen. Since, during these periods of economic turbulence, investors often turn to the crypto market to protect their capitals. Increasing the demand for Bitcoins and making its price increase.

Therefore, the number of individual investors and investment funds, eager to store cryptocurrencies permanently, has been increasing. As capital owners begin to consider the advantages of keeping Bitcoins and other crypto assets in their name, constantly.

State Street customers interested in cryptocurrencies

And this would be precisely the trend observed by the Boston-based bank, State Street. Which, foresees a significant increase in the portion of its customers that will start storing cryptocurrencies with them. A scenario for which they would already be preparing.

Thus, according to a survey conducted by the institution among its clients. It would have discovered that 94% of State Street customers own digital assets of some kind, or related products. With the important figure of 38% of them, hoping to increase their investments in this type of assets for next year.

Although at present, none of its customers have asked State Street to handle the storage of its crypto assets. The company would already be working on this service, as a way to anticipate the future demands of its customers.

This would represent the entry of a traditional financial institution into the cryptocurrency storage market. Which, until now, is in the hands of organizations dedicated exclusively to the crypto world.