Vienna-based financial technology (fintech) company Bitpanda is aiming to get back to ways of traditional finance (TradFi) through new offerings on its exchange platform, as reported by Cointelegraph.
On the basis of information by Cointelegraph, through addition of commodities to its list of available investment options, Bitpanda is expected to provide to its customers benefit from short-term fluctuations in traditional-based methods such as oil, natural gas, wheat, among others. Eric Demuth, CEO, Bitpanda, has spoken on how investors’ demand is having an impact on the line between TradFi and decentralised finace (DeFi). “People want to be able to trade multiple asset classes, and TradFi is catching up to that idea,” Demuth added.
“TradFi has focused on expanding its accessibility, and that is driving a convergence. There is still some way to go before [it] can claim to have the same level of usability and accessibility offered by fintechs,” Demuth said.
According to Cointelegraph, with estimations of over 300 million cryptocurrency users for this year, traditional and DeFi traders are expected to correlate at some point. With global institutions trying to keep up with cryptocurrency-based investments, opening of trading opportunities to assets such as commodities on a digital asset exchange could provide access to traditional investments for cryptocurrency investors.
“Cryptocurrency investors tend to be involved in tradable markets. They also appreciate the simplicity offered by platforms that allow them to make investments into multiple asset classes,” Demuth stated.
Moreover, Cointelegraph noted that Demuth emphasised on how platforms offering the accessibility to cryptocurrency trading but with listings from TradFi, investment possibilities can increase. Though, Demuth mentioned that for these kind of situations, education on the pros and cons of each asset within the financial world is needed.
Going by Cointelegraph’s website, founded in 2013, it is a digital media resource covering news on blockchain technology, cryptocurrency assets, and emerging fintech trends.
(With insights from Cointelegraph)
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