According to a survey by the World Federation of Exchanges (WFE), traditional financial exchanges have mixed reactions to offering crypto-related products and services. Of the 29 respondents, 12 (41%) said they are already offering crypto-related products or services, while seven plan to offer them in the future. More than a third said they had no such plans.
The survey also found that there is generally greater retail demand for crypto products than institutional demand. Retail investors are more interested in non-fungible tokens (NFTs) and stablecoins, while institutional investors are more likely to demand security tokens and custody services. Only 26% of the respondents said they expect crypto assets to become mainstream within the next five years.
The survey was carried out between May and July 2022, several months before the dramatic collapse of crypto exchange FTX, which sent shockwaves through the industry and heightened existing concerns around cryptocurrency with regard to opaque business practices and lack of regulatory clarity, said the WFE.