Cryptocurrency
State Street exec: digital assets will help the private market become the standard in 5-10 years
As reported on The Block, “Digital assets will help the private market become the standard for trading in the next five-to-ten years, according to Jay Biancamano, who leads the crypto charge at custodian bank State Street. “In a new episode of The Scoop podcast, Biancamano told The Block that much of the current market inefficiency lies […]
As reported on The Block, “Digital assets will help the private market become the standard for trading in the next five-to-ten years, according to Jay Biancamano, who leads the crypto charge at custodian bank State Street.
“In a new episode of The Scoop podcast, Biancamano told The Block that much of the current market inefficiency lies in high-performance drag. Due to fees and other costs involved in securities trading, the actual return for many traders is much lower than what they could have gotten if all transaction costs are removed.
“Digital assets, on the other hand, offer a more efficient alternative, he said, and have the potential to bring order to the booming private market. The SEC’s recent decision to expand the definition of accredited investors, especially, opened up more opportunities for retail investors to enter into private deals…”