Clear regulations will accelerate crypto adoption, says SEBA Bank exec
With crypto being in the sights of many regulators, many have wondered if regulation is good or bad for crypto. However, Christian Borel, Senior Executive Officer at SEBA Bank, says that if the laws are clear, it may push crypto adoption forward.
In a Cointelegraph interview, the banking executive mentions that institutions are likely to adopt crypto following the advent of clear regulations. Additionally, the presence of “regulated counterparties” within the banking industry creates a secure and trusted way for institutions and their stakeholders to have access to the crypto sector.
“I expect to see a considerable acceleration in engagement and adoption of digital assets by institutions prompted by a clearer regulatory environment as these institutional players will require a regulated counterparty in which to operate securely.”
Borel also noted that digital assets are in line with the interests of institutions when it comes to finding new prospects. “Institutional investors have always been very attentive to new investment opportunities and their interest in the digital assets sector is coherent with this approach,” says Borel.
The executive also thinks that because it caters to the needs of many, the industry will have more digital asset banks in the future. A digital asset bank is very similar to a traditional bank. According to Borel, a digital asset bank offers “a full suite of traditional banking services.” However, these are tailored for the digital economy as they have a wide range of crypto-structured products.
“I believe that digital asset banks will be increasingly ubiquitous as the digital economy grows, adapting to the evolving needs of clients and prospects in the fast-paced digital asset economy.”
When asked about the benefits that digital assets can bring to both institutions and individuals, Borel described crypto as an “appealing alternative” as the other option is to stick with “low-interest rates and low return on investment.”
Back in January, Guido Buehler, CEO of SEBA Bank predicted that Bitcoin (BTC) could go up to $75,000. This may happen as institutional money flow into the cryptocurrency. According to Buehler, asset pools are trying to find the right moment to invest in BTC.