World’s Top Exchanges Still Warming Up To Crypto Services
A study by the World Federation of Exchanges (WFE) between May and July 2022 revealed a divide in opinion among its members and affiliated exchanges regarding the offering of crypto-related services, as traditional exchanges continue to explore the cryptocurrency market.
A survey of 29 participants revealed that 12 are currently offering services or products related to cryptocurrencies, with CME Group providing futures and options contracts for Bitcoin, International Exchange introducing Bakkt, and Nasdaq providing crypto-related indices. The survey also revealed that 7 out of 17 exchanges not currently offering crypto services intend to launch such offerings in the future, constituting 41% of those not yet in the crypto space. The World Economic Forum (WFE), a worldwide trade group representing over 250 key players in market infrastructure, chose not to disclose the specific exchanges involved.
A survey by the World Economic Forum (WFE) found that crypto-related products are most commonly offered by derivatives, security tokens, and indices. The survey also revealed that retail investors show more interest in crypto products than institutional investors, with non-fungible tokens, utility tokens, and stablecoins being the most sought-after products. The survey also revealed that eleven exchanges have or are planning to establish working groups focused on crypto-related assets and services.
(With inputs from Shikha Singh)
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