The emergence of blockchain wealth management creates a whole world of fresh opportunities (and challenges) to the finance sector.
The wealth management industry needs to ensure it’s working ahead of the changes, not only to remain competitive, but up-to-date and relevant. Clients are already looking to their wealth advisors to help navigate these new and intriguing digital financial instruments, and understand the implications for their investments.
When financial markets crash, especially in the aftermath of Covid-19 devastation to businesses and jobs, and there’s a downturn in the financial markets, people start to seek other safer assets. Traditionally, these have been property, stocks and precious metals.
Now we can add another very competitive player to that list: digital crypto assets.
Banks and financial institutions are able to improve their customer service by upskilling staff so they understand these new currencies, and can serve their clients much better.
What will the impact be on existing financial infrastructures of blockchain wealth management, and how will it affect finance and money as we know it?
Banks across the world are not only using blockchain technology backend to power transactions, but also, starting with news laws being passed in Europe, are now purchasing, holding and selling cryptocurrencies for their customers…