фото показано с : blokt.com

Most of the popular cryptocurrencies in circulation today, including Bitcoin, are deemed too volatile to be used as a medium for everyday transactions. But according to Monex CEO Oki Matsumoto, it is not long before a new stable cryptocurrency will enter the market and gain widespread recognition as a credible alternative to fiat for daily use.

Monex acquired Tokyo-based digital currency exchange Coincheck Inc. in April 2018. The $33-million deal was criticized by many as risky considering that the exchange had lost $530 million in a cyberheist earlier in the year. However, Matsumoto defended the decision saying that the huge future potential of cryptocurrencies makes it worthwhile to occasionally take manageable risks.

Matsumoto said at a news conference shortly after the acquisition, as reported by The Japan Times:

“The potential of cryptocurrencies and crypto-assets is really huge.”

He added:

“It’s possible to manage risks, but it’s no easy job to create a user base with the size and brand value Coincheck has established.”

It is worth noting that the co-founder of Ethereum, Joseph Lubin, recently made a similar remark about dwindling prices being nowhere near bad enough to stall the growth of the crypto space.

Matsumoto continues to maintain a positive outlook toward the future of cryptocurrencies despite the prolonged slowdown in the market with no signs of immediate revival. He is of the view that the ongoing evolution in the financial technology sector will eventually outpace market woes and create an ecosystem that favors service providers offering sophisticated payment and banking solutions.

He added that financial institutions that embrace the positives coming from blockchain technology and its derivatives will likely be the frontrunners in the fintech revolution. The Monex CEO is also optimistic that new innovations in the fintech sector will bring new financial products powered by the same underlying principles of cryptocurrencies but with far fewer limitations.

In a conversation with The Japan Times, Matsumoto said that a new entity is needed that would facilitate cryptocurrency banking and brokerage services.

He noted that conventional financial institutions serving retail customers are generally large corporations that typically have multiple units (e.g., banking, credit card and brokerage businesses) operating under the same roof. In his view, this approach won’t work properly in the digital asset market.

He called for the creation of a new agency that will have the same responsibilities as the traditional banking system but resources fine-tuned for the crypto economy. Matsumoto further claimed that one way or the other, cryptocurrencies will soon become a part of people’s personal finances. He said:

“Probably in the near future, a less volatile or nonvolatile crypto will be invented that will be more suitable for payment.”

He added that this makes it necessary for the government and regulators to facilitate adequate payment and banking solutions that cannot be easily gamed by rogue elements.

Crypto to Soon Become an Integral Part of the Mainstream Financial Ecosystem: Monex CEO was originally found on [blokt] - Blockchain, Bitcoin & Cryptocurrency News.

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