The head of the crypto exchange Binance US spoke in an interview on the Bloomberg podcast how cryptocurrencies will gradually conquer the world.
Catherine Cowley, head of the US division of cryptocurrency exchange Binance US, who also previously worked at Morgan Stanley and Ripple, was interviewed on September 21 in the Bloomberg podcast “Odd Lots”. She shared her vision of the prospects for the massive adoption of cryptocurrencies in traditional capital markets, including mortgages and mergers and acquisitions.
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Down with restrictions
So, Cowley drew attention to the possibility of using cryptocurrencies where traditional financial markets impose certain restrictions on users. In particular, this applies to various transactions in the capital markets, including the segments of mortgage lending and mergers and acquisitions (M&A), as well as the repatriation of foreign exchange profits.
“There are still so many time and place restrictions in these areas. This is where digital assets can come into play. There will be no more deadlines for closing the M&A deal. You will not have to close it no later than Friday 16.59. You can do this at 2 am on Saturday or at 5 pm on Sunday. Digital assets will be available for trading and transactions 24/7, ”she said.
Looking Five Years Ahead
Cowley also suggested that in five years, the infrastructure that is currently being actively built in the crypto space will pave the way for mass adoption of digital assets and their practical use.
She believes that cryptocurrency use cases will go far beyond market speculation and expand to areas such as investing in startups, M&A transactions and mortgage lending.
“In five years, it will be ignorance to start a new business and not consider digital assets as one of its components. This is a trend that will continue to grow. And this is a mass adoption scenario that is immune to a pandemic. Any new business model planning must have this “anti-pandemic resilience,” says Cowley.
She also highlighted the many barriers and inequalities that exist in the world of traditional finance, such as privileges for accredited investors. Meanwhile, there are no such entry barriers in the crypto space. Here everyone is offered the opportunity to build their own personal financial future.