Major financial institutions will move into the crypto space, despite the fact that many of them have avoided it thus far, argues David Mercer, CEO of LMAX Exchange Group, in a new video interview with Profit & Loss.
“We’d be kidding ourselves if we said the last 12 months haven’t been static in crypto land,” says Mercer. “There’s a few reasons for that: some of the scare stories around AML, the lack of regulation and, sometimes, the lack of volatility.”
He adds that one of the main drivers that will push major banks into the crypto space will be when their clients demand access to this asset class, and that right now they are not.
“I think they’re looking at it and they’ll get there, but rather than being priority one it’s priority three, four or five,” says Mercer.
Click below to watch the full interview with Mercer — during which he talks about the development of the crypto markets and the competitive landscape amongst the FX trading platforms.