Ripple’s XRP and its usage is an example of the cryptocurrency market maturing, says PwC official

As 2018 comes to a close, several officials from the cryptocurrency industry have spoken about the market and the recent price surges and dips. The latest official to comment on the market is PricewaterhouseCoopers China and Hong Kong Fintech and Crypto Leader, Henri Arslanian.

Arslanian was of the opinion that there are a lot of exciting things in store for the cryptocurrency industry in 2019 with the entry of institutional investors and other players. He stated that just like 2018 was the year for big banks to enter the crypto verse, 2019 will be the year when the partnerships will be much more solidified. The PwC official also quoted the example of Fidelity, whose entry into the field had made a significant impact. The sentiment was also reflected by One Alpha’s CEO, who had said:

“… Fidelity being the third largest asset management company in the world with 7.2 trillion dollars assets under management, it’s definitely, you know, the big institution that everyone has been waiting for and it’s not, you know, just investing in something. We’re pulling in a joint venture, it’s actually creating a subsidiary completely focused on providing digital asset services .”

Arslanian also stated that in 2019, some known companies will partner with cryptocurrency companies to boost their portfolios. According to him, others may invest in crypto companies just like how Goldman Sachs invested in BitGo, a cryptocurrency custody organization. He went on to say:

“The entry of institutional investors will bring a lot of much-needed experience into the crypto industry. A lot of elements are helping with this process, especially as regulatory clarity is becoming more and more inclusive towards crypto. From Hong Kong to Switzerland, 2018 has been a year of changes and positive development for the field and this will be continued in 2019.”

Henri Arslanian went on to discuss Ripple’s XRP and the competition it provides to the well-established SWIFT. He added that the quick settlement promised by Ripple will be a game changer as more and more banks are considering the addition of cryptocurrencies into their roster. XRP has created a lot of news recently, mainly because of its 4-second transactions settlement for cross-border payments. The Fintech official claimed that the arrival of 2019 will also put the spotlight on security tokens and stablecoins.

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