Institutions involved in the crypto space projection

There is a new economy forming on the internet today. The concept of decentralization is based on blockchain technology, while the actual implementation is based on distributed ledger technology. As an incentive structure and a means of exchanging value, cryptocurrencies are essential to Web3’s progress. It has long been considered the “Holy Grail” of crypto adoption, bringing in massive capital injections and pushing the total market value past the $300 billion mark. The widespread adoption of cryptocurrencies by financial institutions would in many ways consolidate and legitimize the Web3 economy. Investing a large portion of one’s financial resources in cryptocurrencies would almost certainly result in a significant rise in the value of a wide range of digital assets and coins. This article will discuss the institutions involved in the crypto market projection and their net worth.

Standard Chartered – $20.83 billion

According to Coinmarketcap.com, the market capitalization of Ripple’s XRP token is $48 billion, making it the 6^th biggest crypto by market value. Cobalt, a trading technology company based in the United Kingdom, is also a shareholder.

BNY Mellon – 35-46 billion USD

Financial institutions can issue, transfer, and store cryptos using the Fire Blocks platform, which is on BNY Mellon’s list. According to Blockdata, Investing in crypto custody services has been a priority for banks, who have invested the most in these services. Some twenty-three out of one-hundred banks are either developing their own custody technology or employing the services of an outside tech company to do so.

Citibank – 311.04 billion USD

Citibank, the country’s 4^th biggest bank as per assets, has chosen SETL’s ledger technology for transferring digital assets or cash.

JP Morgan Chase – 380.59B USD

The largest bank in the United States has invested in ConsenSys, an Ethereum software company.

BNP Paribas – 79.48B USD

Using the DAML programming language and smart contracts developed by Digital Asset, the French financial group was able to develop applications for trade and settlement that could be used in real time.

Morgan Stanley – 19B USD

Stone Ridge, an alternative asset manager with more than $10 billion in assets under management, has a stake in NYDIG, which offers custodial service for digital assets.

Mitsubishi UFJ – 79.39B USD

US cryptocurrency exchange Coinbase and Japanese cryptocurrency exchange Bitflyer have both received investments from Mitsubishi UFJ Financial Group, a subsidiary of Japan’s largest bank.

Goldman Sachs – 50 billion USD

Goldman Sachs is the backer of Coin Metrics, a blockchain data provider for institutional clients.

Barclays – 120 million USD

The British multinational Barclays has invested in RealBlocks, which connects investors and advisors with alternative investment managers.

Conclusion

Direct investment through crypto exchanges and investment through crypto-related companies are the two main ways in which cryptocurrencies are growing in popularity as a means of investment. Around 40 institutional cryptocurrency investment companies have launched in the last year. Even if there is a high-risk level involved, altcoins such as Solana and Terra have seen increased activity this year. The ability of altcoins to generate high returns is a big reason for their popularity. Altcoins can now be included in institutional investment portfolios because they are now sufficiently diversified. Since Bitcoin used to be the only cryptocurrency in circulation, this is a significant shift. In light of these findings, the market’s forecast for the upcoming year appears to be statistically positive.