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74% of Firms Surveyed are Exploring DLT and Digital Assets: Citi

Katie Lin

Summary: An investigation conducted by Citigroup has revealed that despite the failures of FTX and other cryptocurrency firms, there is a growing interest in and engagement with distributed ledger technology (DLT) and digital assets. More and more companies are delving into DLT and digital assets, and it is expected that this percentage will increase from 47% ...

An investigation conducted by Citigroup has revealed that despite the failures of FTX and other cryptocurrency firms, there is a growing interest in and engagement with distributed ledger technology (DLT) and digital assets. More and more companies are delving into DLT and digital assets, and it is expected that this percentage will increase from 47% in 2022 to 74% in 2023. Citi noted that "billions of (US) dollars of value are now being managed on DLT, across a combined ecosystem that includes over 20 of the world’s leading financial institutions."

When examining how different continents approach cryptocurrencies, Citi found that Asia and Latin America have focused on institutional liquidity and making it accessible to the general public, while Europe has taken a regulatory approach with Markets in Crypto-Assets (MiCA). Unsurprisingly, 51% of those surveyed believe that regulation uncertainty could impede further progress in the next three years, particularly in North America and Europe.

Author: Katie Lin

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