In recent exchange news, the chief executive officer of Revolut has expressed doubt regarding the institutional appetite for cryptocurrency exposure, Binance has launched a new research division, and Etoro has begun the rollout of its wallet for Android and iOS users.
Also Read: Korea’s Upbit to Launch Crypto Exchanges in Thailand and Indonesia
Revolut CEO Skeptical on Institutional Investment
Nikolay Storonsky, the chief executive officer of fintech unicorn Revolut, recently expressed skepticism regarding the rhetoric circulating throughout the cryptosphere that suggests institutional investors are eager to gain exposure to bitcoin.
“There is no interest from big institutional investors so far,” Storonsky said at the recent Web Summit 2018 in Lisbon. “Unless these big institutional investors and hedge funds move heavily into the crypto world I just don’t think banks will move because they simply try to make money from their clients.”
Despite his statements, Storonsky concluded that “fintech will be very big in crypto for the foreseeable future.” He added: “I just don’t think banks will catch up.”
Binance Announces Research Division
Binance, the leading cryptocurrency exchange by trade volume, has announced the launch of a new in-house analysis division, Binance Research. The company said that the new division will “increase transparency and (the) accuracy of information in the cryptocurrency and blockchain space.” It added that it aims to “shine a spotlight on quality blockchain projects.”
As of this writing, Binance Research has published a report providing analysis on Loom Network, as well as another one on Gochain. According to the company’s website, a report looking at Pundi X will also be published “soon.”
Etoro Starts Rollout of Android and iOS Wallets
Social trading platform Etoro has started launching its cryptocurrency wallet for Android and iOS users. According to a press release, the wallet is being rolled out in different countries in phases in order to “ensure the best customer experience for clients.”
The wallet is currently available for download via Google Play and Apple’s App Store. It will only support BCH, ETH, LTC and BTC. Etoro plans to eventually add support for other cryptocurrencies in the future.
“The eToro wallet today is just the beginning and we will be adding a whole host of additional functionality which will include supporting additional crypto and fiat tokens, crypto to crypto conversion, the ability to deposit fiat, payment in-store and more,” said Yoni Assia, the chief executive officer of Etoro.
Do you think that the hype regarding the institutional appetite for crypto is real? Share your thoughts in the comments section below!
Images courtesy of Shutterstock, Wikipedia, Etoro
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