Cryptos to Take Off Like Derivatives, Monex CEO Believes

Oki Matsumoto is optimistic about the future of cryptocurrency
02 May 2018   627

The head of the Japanese online broker Monex Group Inc Oki Matsumoto believes that bitcoin and other cryptocurrency assets can "fly up", as derivatives 38 years ago. This opinion he expressed in an interview with CNBC.

Regulators really hated derivatives in 1980 but just soon after that they really embraced them. What's happening in the crypto world today is very similar to derivatives in the 1980s, and sooner or later all of those regulatory frameworks will be fixed.
 

Oki Matsumoto

CEO of Monex

He also recalled that at first the very concept of derivatives was incomprehensible to many.

Only a few people could understand derivatives, just the rocket scientists and those people. But five years later, all the biggest schools in the world were teaching derivatives.
 

Oki Matsumoto

CEO of Monex

Despite the fact that high taxes on cryptocurrencies in Japan deter many retail investors, traders, Oki Matsumoto is convinced, it does not bother.

You don't drink thinking about getting hungover the next day. I think it's going to take time for Japanese retail people to move a good portion of money into crypto.
 

Oki Matsumoto

CEO of Monex

In April, Monex confirmed the acquisition of the Japanese exchange Coincheck for $ 33.6 million.

Bakkt to Release Consumer App This Year

The app can be used for a wide range of tasks, e.g., crypto and securities trading, virtual goods purchase, etc
23 January 2020   92

Institutional Investor Platform Bakkt will release an app for retail investors this year, with which users can pay with cryptocurrency.

According to the president of Bakkt Adam White at the World Economic Forum in Davos, the application can be used for a wide range of tasks. In addition to trading cryptocurrencies, it will support various virtual “goods” like points of loyalty programs.

In addition, in the future it is possible to add securities trading, as well as the creation of a portal for shops and merchants. That is, the application will be more like a traditional fintech product like PayPal than a solution from a cryptocurrency exchange.

Although the Bakkt platform was originally created for institutional investors, the new director of Mike Blandina is very serious about entering the retail market. Earlier, he said that the application for retail investors should be released in the first half of 2020.

I do not think we are there yet. What gives me optimism is that we are seeing a lot of developer interest. I am confident that someone is going to find something.

 

Adam White

President of Bakkt

 White added that the cryptocurrency market is still underdeveloped.