Open Banking can address the hurdles of crypto adoption.
Most importantly, Open Banking can enhance the current lacking banking rails.
Following the announcement from Dubai and Abu Dhabi’s regulatory authorities that govern virtual assets and cryptocurrencies, crypto players from across the globe have launched in the vibrant and fast-growing Middle East crypto market.
This has made the Middle East one of the fastest growing crypto markets in the world, making up 7% of the global trading volumes, according to ChainAnalysis. A recent survey has also shown that 33% of UAE residents say they have invested in crypto.
In addition, data from YouGov shows that 67% of UAE consumers have an interest in investing in crypto in the next five years.
However, the ecosystem will need to overcome several challenges before it can build on the interest displayed by consumers in the region.
The most staggering hurdle that will need to be addressed is the friction with on-ramping into the crypto...
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INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...