Adoption of Crypto Trading in Retail Banks
Crypto currencies demonized as “crime currencies”, claw their way back and gain more and more ground in the "White Color Business". Rules and Regulations – especially in Europe - become clearer and Anti Money Laundry Regulations are set. Crypto Custodians become partners and collaborators of the financial markets and regulators are mostly more advanced than banks. The MiCA regulation (Markets in Crypto-assets) will become effective in 2024, and will finally separate the wheat from the chaff when it comes to Crypto providers. Crypto Currencies are becoming more and more socially acceptable! Why not engaging them into payment systems, allowing clients an everyday usage, especially when it comes to eCommerce shops where speed of payment is not as essential as in brick & mortar shops. What CISOs need to prepare for and what benefits versus which risks are to be considered when accepting crypto currencies in the company or operating with crypto custodians and exchanges.
Martin holds a MSc of the technical University of Vienna and an MBA of University of Stamford, CA. He has 25 years of experience in international banking and finance (especially IT). A sound knowledge of processes, technologies and communication, give him the ability to integrate new technologies into strategy, innovation and implementation; ensuring regulatory embedding and guarantees the economic success of the innovative approach. Martin operates since 4 years in the framework of an independent consult firm supporting customers to explore innovative approaches in the digital- and crypto environment.