GDF: Major financial institutions intensify digital asset investment
GDF: Major financial institutions intensify digital asset investment
Major financial institutions are intensifying their focus on the digital assets sector with increased investment and training for staff, new global research from industry association Global Digital Finance (GDF) shows.
Its study with finance firms in the US, Asia, Europe (including the UK) and the Middle East responsible for more than $221.75 billion assets under management found nearly four out of five (79%) are building business units and teams dedicated to digital assets strategy.
Internal reorganization is being carried out in parallel with increased investment in training for staff and in monitoring developments in the digital assets sector, the research by GDF, which is focused on accelerating digital finance through the adoption of best practices and standards and engagement with regulators and policymakers, found.
Around 80% agree their firm is allocating enough staff and investment to monitor developments in the digital assets space with 31% strongly agreeing with this view. Up to 83% agree their firm has dedicated enough resources to training and developing digital assets experience within their firm.
That is reflected in the industry support services they are relying on for information on developments in the digital assets space with 80% looking to asset management and servicing firms as their main source ahead of 57% relying on crypto and digital asset research firms.
Around half (47%) rely on crypto and digital asset market data providers while 45% look to industry associations and 37% to accountancy firms.