According to a poll conducted by trade organisation the World Federation of Exchanges (WFE), traditional financial exchanges have varying opinions about delivering crypto-related goods and services.The WFE polled its member exchanges as part of a study on the infrastructure for cryptocurrency trading, and 12 of the 29 respondents (or 41%) said that they already provide services or products connected to cryptocurrencies.In the future, seven more intend to provide them.The study found that more than a third of respondents stated they had no such intentions.
The WFE also discovered that institutional demand for crypto goods is typically lower than retail demand.The sorts of products requested also differ, with institutional investors more likely to request custody services and security tokens than retail investors, who are more likely to be interested in non-fungible tokens (NFTs) and stablecoins.In the next five years, only about a quarter (26%) of respondents (the sample size) expect crypto assets to become widely used.The study was conducted between May and July 2022, a few months before the catastrophic failure of the cryptocurrency exchange FTX, which sent shockwaves through the market and fueled already-existing concerns about cryptocurrencies with regard to murky business practices and a lack of regulatory certainty.
More than 250 companies, including Nasdaq, Deutsche Boerse, and Switzerland’s SIX Group, are members of the WFE.