By Marko Vidrih on The Capital
Binance.US CEO Katherine Coley said traditional finance officials now recognize that cryptocurrencies have become “real assets and real customers with real business models.”
“We’re finally recognizing that crypto is just another opportunity in our financial future, rather than seeing it as a kind of misfit or unacceptable type of industry,” Catherine Coley said in an interview with Cointelegraph.
Coley also responded to the news that JPMorgan Chase bank has taken on the services of the cryptocurrency exchanges Coinbase and Gemini.
“I take it as a very positive signal. We’ve seen specialist banks before being established to specifically support crypto, because traditional banks were not taking crypto businesses seriously,”
Coley noted such banks have gained considerable popularity. For example, Silvergate from California last year became listed on the stock exchange, and in the I quarter of 2020 showed a significant increase.
“I think that was a strong, prior signaling that crypto businesses actually do have traditional revenue models, are consistent businesses involving real assets and real customers with real business models,” said Coley.
JPMorgan is now looking at Coinbase “as another business,” and this is “an extremely positive development,” she thinks.
Recall that in 2017 the head of JP Morgan, Jamie Dimon, called cryptocurrencies “fraud that is worse than tulip bulbs”.
Coleyemphasized that one cannot ignore evolution in views:
“Look how the tables have turned! It’s interesting to have seen the evolution of his stance in real time. This acceptance phase that we’re in now will lead to broader adoption, to more mainstream opportunities; prior skepticism has switched to seeing us as trusted businesses.”
Author: Marko Vidrih
Featured image credit: everipedia.org
Binance.US CEO: Cryptocurrencies Have Become Real Assets in Real Business Models was originally published in The Capital on Medium, where people are continuing the conversation by highlighting and responding to this story.