Tradfi players that offer crypto services set to muscle out crypto exchanges – report

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0;switch(e){case"expanded_panel":o='{promoMarkup}{notifMarkup}',a=n._store.getNotifications(),r=n._generatePanelMarkup(o,a),i.innerHTML=r;break;case"error_panel":r=(o='{errorMsg}').replace("{errorMsg}",n._config.panel.errorMsg),i.innerHTML=r}t&&t()}else t&&t(new Error("No panel parent"))}},{key:"createPanelParentNode",value:function(e){e&&(e.innerHTML='',this._panelNode=document.getElementById(P))}},{key:"updateBadgeNode",value:function(e){if(e){var t=this._store.getNotifications().newCount,n=this._config.badge.maxCount;if(t){var o=t>n?n+"+":t;e.innerHTML=o}else e.innerHTML=""}}},{key:"addStyles",value:function(e){if(e&&"undefined"!=typeof window){var t=document.getElementById(this._config.panel.styleTagId);t||((t=document.createElement("style")).type="text/css",t.id=this._config.panel.styleTagId,t.innerText=e,document.head.appendChild(t))}}}]),e}(),j=function(){function e(t,n,o){E(this,e);var i=this;i._store=n,i._view=o,i._config=t;var 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analytics firm Tiger Research said in a nine-country study of current crypto trends.“Traditional financial institutions are entering the market by leveraging familiar-seeming investment products like Bitcoin spot ETFs,” the report’s authors wrote. “Ahead of the next bull market, exchanges will only be able to survive if they prove to investors [that they can provide services] that traditional finance cannot.”Investors around the world are pouring billions of dollars into crypto ETFs at a time when crypto exchanges are laying off staff, seeing their trading volumes drop, and experiencing share price slumps.The problem is acute across Asia, but is being felt hardest in nations like South Korea, Tiger Research said.The nation is home to just five permit-holding crypto exchanges, all of which started life as tech startups.But the creeping influence of traditional finance is already making its presence felt in Seoul. The securities giant Mirae Asset is on the verge of sealing a takeover deal with Korbit, the country’s oldest Bitcoin trading platform, for instance.Up to 16 million South Koreans, or almost a quarter of the country’s population, have experience trading crypto on domestic exchanges, per official estimates.However, average daily trading volumes are down, and Korean won deposits are gradually decreasing, Tiger Research noted.“Investors are moving to the stock market or overseas exchanges in pursuit of better returns,” the report’s authors said.The picture is similarly gloomy in Japan, the authors said. New inflows have stagnated due to high tax rates that will not be reformed until 2028.In Hong Kong, meanwhile, strict regulations mean only high-net-worth traders who classify as professional investors can enjoy unfettered access to crypto exchanges.In the battle to capture new users, traditional finance firms have the edge, the authors said.When those players enter the market, new users will be able to buy Bitcoin and high-cap altcoins through their existing banking and securities trading apps, the firm wrote.“What traditional finance provides is not new information, but a familiar experience,” said Tiger Research.Crypto exchanges can fight back by offering services banks cannot — such as access to decentralised finance and a wider range of cryptocurrencies, the firm said.Terms and Privacy PolicyPrivacy & Cookie SettingsMore InfoTrending tickersBTC-USD Bitcoin USD 66,906.70 -63.67 (-0.10%)XRP-USD XRP USD 1.32 -0.00 (-0.02%)SPAX.PVT SpaceX 608.15 -0.00 (-0.35%)ETH-USD Ethereum USD 2,057.32 -6.57 (-0.32%)GC=F Gold Jun 26 4,702.70 +23.00 (+0.49%)PortfolioSign in to access your portfolioSign inTop gainersAAOI Applied Optoelectronics, Inc. 103.91 +17.56 (+20.34%)SBAC SBA Communications Corporation 204.04 +32.48 (+18.93%)YSS York Space Systems, Inc. 28.03 +4.43 (+18.77%)VSAT Viasat, Inc. 53.69 +8.46 (+18.70%)LUNR Intuitive Machines, Inc. 23.99 +3.75 (+18.53%)Top losersKNF Knife River Corporation 73.91 -8.20 (-9.99%)WIX Wix.com Ltd. 81.95 -8.55 (-9.45%)PBH Prestige Consumer Healthcare Inc. 52.48 -5.20 (-9.02%)ENPH Enphase Energy, Inc. 34.92 -3.36 (-8.78%)RGC Regencell Bioscience Holdings Limited 30.80 -2.92 (-8.66%)Most activeNVDA NVIDIA Corporation 177.39 +1.64 (+0.93%)INTC Intel Corporation 50.38 +2.35 (+4.89%)NOK Nokia Oyj 8.82 +0.55 (+6.65%)PLUG Plug Power Inc. 2.4100 +0.1600 (+7.11%)TSLA Tesla, Inc. 360.59 -20.67 (-5.42%)Top economic eventsEarnings eventsMy earnings eventsEarnings events