Traditional players are showing increased interest in the digital side of finance, thanks to a period of regulatory clarity, according to Mark Jennings, head of Europe at digital exchange Gemini.
In some jurisdictions, most notably the US, decentralisation and blockchain technology are areas of key focus for traditional players, according to Jennings, speaking on a panel at this year’s Paris Blockchain Week.
“For me, that’s a positive catalyst,” he said.
According to Jennings, greater regulatory clarity is driving increased adoption of blockchain technologies.
“More than 50% of people who are not currently involved in the crypto ecosystem say that regulation is the main reason they’ve stayed out,” he said.
“For Gemini, the first question is: how do we build trust?”
Seizing this territorial opportunity, Gemini is building on traditional finance’s growing interest in decentralised finance to forge partnerships that reinforce trust within the ecosystem as a whole.
“We’re moving in the right direction toward regulatory clarity. For an exchange like Gemini, which is looking to allocate capital and grow its business in Europe, having regulatory certainty both in the US and Europe provides a strong foundation for us to expand.”
Jennings noted that the exchange is attracting attention from banks, which are approaching Gemini to explore potential ventures, rather than the other way around.
“We strategise to help potential partners solve their challenges, by offering access to our exchange or custody products in ways that support the growth of their own offerings too,” he said.
