IMF expects banks to adopt cryptocurrencies in a five-year period

The representative of the IMF considers that the interest of banking institutions in adopting cryptocurrencies and associated technologies is to reach new markets. From the financial institution estimate that this change will occur in an average of five years.

The cryptocurrencies and blockchain technology have had a progressive acceptance in the global financial system. Although at the beginning the banks were skeptical about the regulatory framework and the security of transactions, digital assets are currently taken into account as a mechanism for development and evolution.

It is impossible to ignore the dynamics that cryptocurrencies such as bitcoin, ethereum and others offer to clients and commercial entities, fast operations without intermediaries. Hence the recent statements of Christine Lagarde, managing director of the IMF.

The official said: “Ultimately, I think it will be in the interest of financial institutions to adopt these digital technologies (currencies), because, like any economic actor in that field they want not only to reach new markets but expand it, and the way to expand it is by reaching new territories.”

Lagarde estimates that in five years there will be a change, although they are still keeping an eye on the security and stability of the value of cryptocurrencies in the market.

M.Pino

Source: Diario Bitcoin

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