JP Morgan predicts growing crypto relevance to financial services
by: Dynasty GI2022-01-26
The global investment bank JP Morgan published a report this month on the outlook of digital assets, including crypto currencies and NFTs, stating that the cryptocurrency markets are ‘increasingly relevant to financial services.
In its report, the bank’s analyst stated that the ‘tokenisation and fractionalisation’ hold large promise, with transactions speeding through cryptos and becoming more competitive, with an expansion that crypto technology will continue to develop in 2022. It also believes that the crypto market will continue to grow this year, with new projects and new tokens with different use cases due to emerge. It acknowledges that 2021 may have been the year of NFTs and suggests that 2022 may prove to be the year of the ‘blockchain bridge’ or the year of financial tokenisation. The report written by one of the bank’s senior analysts, Ken Worthington, has a positive outlook despite the critical comments made in the past about cryptos by JP Morgan’s CEO, Jamie Dimon.
"Worthington makes an important comment about blockchain bridges, which has the potential to add even more opportunities to transform the financial sector as different blockchains better interact with each other. Above all, it is important to see a traditional ‘big beast’ of the financial sector such as JP Morgan increasingly acknowledging the relevance and importance of the crypto world."
Noted Eduardo Carvalho, the founder and CEO of Dynasty Global.