PwC official Appraises Ripple’s XRP As An Example Of The Cryptocurrency Market Maturing
Ripple News: As the year comes to a close, crypto enthusiasts are coming out to predict that cryptocurrencies will perform much better in 2019. Henri Arslanian, the PricewaterhouseCoopers & RegTech Leader for China and Hong Kong, asserts that 2019 has a lot of exciting things in store for the cryptocurrency industry.
Arslanian believes that the upcoming year will observe an inflow of institutional investors and other players in the crypto ecosystem. He added that 2018 observed the entry of big banks and 2019 will probably see such partnership strengthing. Citing the example of Fidelity and it’s substantial impact, the PwC official stated:
“… Fidelity being the third largest asset management company in the world with 7.2 trillion dollars assets under management, it’s definitely, you know, the big institution that everyone has been waiting for and it’s not, you know, just investing in something. We’re pulling in a joint venture, it’s actually creating a subsidiary completely focused on providing digital asset services .”
Furthermore, Arslanian predicted that some known companies will partner with cryptocurrency companies in order to boost their portfolios. Others will jump on the wagon by investing in crypto companies, how Goldman Sachs invested in BitGo, a cryptocurrency custody organization. He added:
“The entry of institutional investors will bring a lot of much-needed experience into the crypto industry. A lot of elements are helping with this process, especially as regulatory clarity is becoming more and more inclusive towards crypto. From Hong Kong to Switzerland, 2018 has been a year of changes and positive development for the field and this will be continued in 2019.”
In all this discussion, Arslanian showed his full support to Ripple’s XRP. Noting the competition it poses to the well-established SWIFT, he asserted that Ripple promises quick settlement, which is a game-changing advantage. This feature is ought to invite more and more financial institutions to add cryptocurrencies to their roster.
The 4-second transactions settlement for cross-border payments boasted by XRP has gained a lot of traction from the market. He further predicted that 2019 will also observe the rise of security tokens and stablecoins.
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