Voyager Digital, Ltd is extremely excited to see the The US Office of the Comptroller of the Currency’s decision to open the door for federally regulated banks and savings associations to serve as custodians for cryptocurrencies.
The landscape appears to be changing; this change should trigger global regulators in all Financial centres to make similar decisions. The bridge between traditional fiat custodians and crypto will bring more investors and traders into the crypto eco-system.
When more investors and traders enter this eco-system, reduced volatility of currencies such as Bitcoin will occur and make the markets much more efficient. The evolution of markets requires adoption of major players in certain roles. A key component in the crypto eco-system is the safety and security of assets which lends enormous credibility to the industry and should grow adoption which is tremendous for Voyager as we are in the final stages of our U.K. and European expansion plan as a publicly traded Canadian company.
One thing to note is that it appears that banks want to enter the ever growing crypto industry which is a long way from a few years ago. One can only believe that they see the disruption happening in the Financial Services Industry.
Additionally, this news should be received very positively by the crypto community and drive the price of some of the most popular currencies to all-time highs in short order. Mainstream adoption is coming and we can only point to the world economic and political issues as drivers for growth. The adoption by the banks will take time and they will either have to build their own systems or buy to stay competitive with the Crypto banks that have started the adoption curve.
The future is extremely bright for this industry and for Publicly traded companies such as Voyager (VYGR.CN, OTC:VYGVF, UCD2.F) as we build out an infrastructure to trade, invest and safekeep retail and institutional assets.