In the race to institutionalize crypto, participants eye familiar tech ‘wrappers’ for new assets
Despite the development of digital assets overall, and interest in cryptocurrencies remaining strong among individual investors and niche firms, widespread institutional adoption remains muted. Wei-Shen Wong looks at the tools being developed to support expanded institutional use and the fundamental issues still hampering broader adoption.
In the Chinese Zodiac, 2021 was the year of the Ox. But as far as the Collins Dictionary was concerned, 2021 was the year of non-fungible tokens (NFTs)—it named the digital asset its word of the year. Interest in digital assets is on the rise overall, while work is underway to bring security tokens to the fore. Yet many institutions are still grappling with whether or not to get more involved in the original and still most controversial digital asset: cryptocurrencies.
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