Banks did not pay attention to the emergence of cryptocurrency. All the people are accustomed to using classic payment methods. Now, in some countries, payment by phone is still unavailable, because it is difficult for classic banks to change towards digitalization.
In terms of innovation and technology, the financial market is traditionally one of the most interesting. However, some innovations, for example, the internet, significantly changes the principles of financial institutions functioning, creates new products and services, and formes new channels for their provision. The bank cards have become a morally obsolete technology compared to electronic money and cryptocurrencies.
Recently, an active discussion has begun about how cryptocurrencies will affect the development of the global financial system and the world economy as a whole. Over the past year, the world has seen a rapid growth in the cryptocurrency market. Their combined capitalization in December 2021 reached $2.3 trillion, which corresponds to approximately 1% of organic financial assets.
Involvement in the cryptocurrency market of financial intermediaries is still limited, but trading in derivative financial instruments (related to cryptocurrencies) and shares of exchange-traded funds (ETFs) is setting to active. The decentralized finance (DeFi) ecosystems are starting to develop. This suggests that governments are already interested in developing the industry.
We are committed to the development of the cryptocurrency industry and help to develop it. Our team of international developers creates projects in the fintech industry for people all over the planet. Our developments allow you to accept payments from any country and aim to create a tool that allows every person to do business with people around the world.
