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April 22, 2023

Exciting Wins for Crypto: TradFi Institutions Embrace Crypto Services and Investments

The crypto landscape experienced a significant shift in March as regulatory pressures mounted in the US, prompting some companies to consider relocating to more crypto-friendly jurisdictions. However, despite the increased scrutiny, investor interest in the sector remained strong, signaling unwavering confidence in the future of digital assets.

According to the latest CoinShares Digital Asset Fund Flows Weekly report, digital asset investment products saw $2.5 million in inflows in the last week of March alone, even amid a 33% decrease in trading volumes week-over-week. As anticipated, Bitcoin (BTC) took the lead with $8.8 million in weekly inflows for investment products providing crypto exposure.

We’ve seen some exciting developments in the world of cryptocurrency recently, as traditional financial (TradFi) institutions have begun offering crypto services to their customers. This marks a significant milestone for the mainstream adoption of digital assets. Let’s take a look at some notable examples:

PostFinance Partners with Sygnum for Digital Asset Banking Services

Swiss retail bank PostFinance recently announced its collaboration with digital asset services provider Sygnum to offer its customers direct access to the cryptocurrency market. This partnership allows PostFinance’s 2.5 million investors to specifically gain exposure to Bitcoin and Ethereum. Sygnum, a fully regulated institution supervised by the Swiss Financial Market Supervisory Authority, will provide its B2B banking platform for this service.

The collaboration also aims to introduce staking as a revenue-generating service for PostFinance, further showcasing the synergy between TradFi institutions and the growing crypto ecosystem.

Nasdaq Set to Offer Ether and Bitcoin Custody Services in Q2

Nasdaq, the global marketplace, is preparing to offer digital asset custodial services by the end of Q2 this year, according to Ira Auerbach, Senior Vice President and Head of Nasdaq Digital Assets. This Bloomberg report confirmed Nasdaq’s entry into the growing list of traditional finance firms potentially serving as cryptocurrency intermediaries.

Auerbach stated that Nasdaq had made significant progress in acquiring the necessary technical infrastructure and regulatory approvals for its new venture.

Nasdaq aims to obtain a limited-purpose trust company charter, allowing it to operate a custody desk. Initially, the stock exchange operator plans to offer safekeeping for BTC and ETH, joining the growing list of traditional finance firms serving as intermediaries for cryptocurrencies.

Over 1,200 German Banks to Offer Bitcoin Trading for Retail Customers

Deutsche WertpapierService Bank AG (dwpbank), the leading institute for investment services in Germany, serves approximately 1,200 banks, providing them with the infrastructure necessary to offer securities services to their customers.

On March 23, dwpbank announced that its new wpNex platform would enable all affiliated banks to offer Bitcoin trading and other digital assets to their customers in the future.

MLP Banking AG is set to launch the crypto offering, as stated by Dr. Paul Utzat, Head of Account and Securities Processing:

“In partnership with dwpbank, we aim to offer our customers cryptocurrency trading in the future. The MLP client portal will incorporate this as a logical extension to our existing wealth management services.”

Utzat revealed that the service is planned for all retail customers in the second half of the year.

The wpNEX platform by dwpbank allows for seamless integration of crypto trading into customers’ online banking. Clients will see a crypto account alongside their securities account and can use their current account at their bank for settlement, eliminating the need for pre-funding. Furthermore, customers won’t need to undergo additional verification when opening a crypto account.

Russia’s Sberbank Ventures Into DeFi

Russia’s largest state bank, Sberbank, is delving into the decentralized finance (DeFi) market by building Ethereum tools on the Ethereum blockchain. After starting its DeFi exploration in July 2022, Sberbank developed a platform for registered securities firms and accredited investors to issue or invest in tokens and cryptocurrencies.

The bank plans to offer retail clients access to Ethereum-based digital assets soon, providing information and guidance in the process.

A New Financial Frontier: Rebus Paves the Path for DeFi and TradFi Synergy

These recent developments in the world of TradFi institutions embracing crypto services and investments align perfectly with Rebus’ vision and mission. Rebus stands at the forefront of bridging the gap between the TradFi and DeFi worlds, creating an ecosystem where conventional financial establishments can access innovative crypto products and services.

Rebuschain is well-positioned to establish partnerships with DeFi projects and create unique DeFi instruments, allowing TradFi banks and asset managers to offer these products to their clients seamlessly. As more TradFi institutions recognize the potential of digital assets and integrate them into their offerings, Rebus will continue to play a pivotal role in facilitating this transition, fostering the mainstream adoption of cryptocurrencies and DeFi solutions.

Together, Rebus and its partners are shaping the future of finance, breaking down barriers between the old and the new, and proving that the synergy between TradFi and DeFi can drive the industry forward and unlock untapped opportunities for investors and financial institutions alike.

Learn more about Rebus

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