eToro CEO: ‘A Transfer of Over $10 Trillion’ Over Next 10 Years Into Cryptoassets

by Guillermo Jimenez
7 ways to make with crypto

eToro CEO: ‘A Transfer of Over $10 Trillion’ Over Next 10 Years Into Cryptoassets

Recently, Yoni Assia, Co-Founder and CEO of social trading and multi-asset brokerage eToro, talked about the future of crypto.

The eToro CEO’s comments were made during a conversation he had with journalist Rachel Wolfson, who was reporting for Cointelegraph from Miami’s Bitcoin 2021 conference.

Assia said:

When we’re thinking about the future, eToro firmly believes in the combination and connection between cryptoassets and equities. The majority of our clients trade both cryptocurrencies as well as stocks on the platform. So, I think that’s definitely a trend sort of continuing in the future. I think a lot of people will want to manage their investments in one account.

We’re also big believers in the future of blockchain technology for the backend of finance, and that’s going to take a while. I believe that all financial assets are eventually going to be transformed into the blockchain in one from another. So we’re going to see a transfer of over a hundred trillion dollars over the next 10 years into native digital assets.

With regard to DeFi and crypto regulation, Assia said:

DeFi is a bit of a wild west right now — no regulation, no real financial institutions, but a lot of amazing innovation. I think we’re going to see a lot of that innovation going into traditional or regular financial institutions — centralized companies — to be able to offer that innovation directly to consumers.

When asked about his outlook on the crypto space for the next several years, Assia replied:

I think of a Bitcoin as the king of crypto. Bitcoin is here to stay. I’ll be surprised if we don’t see a significant rise in the price of Bitcoin over the next three to five years as still five billion people in the world basically don’t really have a good local currency. I think smart contracts and everything we’re seeing in DeFi — this really is just the beginning. It’s the infancy of how financial services as well going to look like in the future, and I think one thing that needs to be solved — and hopefully within the next 12 to 18 months — is scalability of blockchain protocols.

DISCLAIMER

The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.

7 ways to make money in crypto

You may also like

Leave a Comment

The latest news about crypto industry at Coingraph. Most recent news about bitcoin, altcoin, blockchain, mining, cryptocurrency prices and more.

 

Email: [email protected]

© 2022 Coingraph.org – All rights reserved.