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Ripple See 2020 To Be A Good Year For Institutional Players & Adoption

Ripple See 2020 To Be A Good Year For Institutional Players & Adoption
  • Bitcoin and other cryptocurrencies have had a pretty decent 2019.
  • Ripple suggest that in the next year, we will see a bigger amount of adoption.
  • Brad Garlinghouse believes that “half of the top 20 biggest banks in the world will actively hold and trade digital assets in 2020.”

Bitcoin and other cryptocurrencies have had a pretty decent 2019. The past week or two might have been less so… but when it comes to adoption of the industry, we’ve seen some pretty big things over the course of the year.

In a post published to Ripple’s blog, they suggest that the next year - and as we enter the next decade - we will see a bigger amount of adoption. It was announced that the San-Fransico-based company chief, Brad Garlinghouse believes that “half of the top 20 biggest banks in the world will actively hold and trade digital assets in 2020.”

In the post, Garlinghouse said:

“The world doesn’t need 2000+ digital assets. While I don’t think there will be one coin to rule them all, it’s clear that if an asset doesn’t have a proven use case beyond speculation, it is not going to survive.”

We’ve heard Garlinghouse’s thoughts on all the cryptocurrencies in the space before so this shouldn’t come as much of a shock to some. 

Digital banking

The article went onto discuss the long term staying power and that institutions must embrace the tech as they believe it will start in 2020. Head of Global Institutional Markets, Breanne Madigan said this will be helped by big banks in New York getting involved with crypto.

“The presence of recognized players will increase institutional confidence in the space and pave the way for greater institutional adoption next year.”

It will be interesting to see how this plays out in the next year. For more news on this and other crypto updates, keep it with CryptoDaily!

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