Major crypto exchange Crypto.com is on track to bring more institutional liquidity into Bitcoin. This is courtesy of a recently announced deal with Deutsche Bank, one of the biggest financial institutions in the world.
Crypto.com’s official announcement confirmed the collaboration with Deutsche Bank. It also disclosed key details about the partnership including plans for the bank to provide corporate banking services to the exchange.
The announcement disclosed that the deal will involve Singapore, Hong Kong, and Australia. All major financial jurisdictions that have recently been demonstrating interest in Bitcoin and other cryptocurrencies.
The official statement disclosed plan to extend the deal to Europe, including the UK in the future. Crypto.com described the move as an important milestone and for good reason.
Spot Bitcoin ETFs approval and performance over the last year underscores robust institutional interest. However, this has mostly been limited to the U.S market and jurisdiction.
The freshly announced deal between Crypto.com and Deutsche Bank will mainly involve other global markets. It highlights the expansion into other major foreign jurisdictions which could unlock more liquidity for assets like Bitcoin.
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If the U.S-based crypto ETFs are anything to go by, then this new deal signals more incoming institutional demand. This outcome could be one of the catalysts that the market needs to sustain and extend the recent bullish trajectory well into 2025.
The deal was in line with the FOMO that the rest of the major financial hubs in the world have been experiencing. It also reflects the crypto gold-rush that has prevailed in 2024.
The fact that the deal intends to get a foot into the European market signals plans to tap into growth in almost all continents. A major global banking giant getting in bed with crypto firms reveals that the banking segment can no longer ignore available opportunities. They also want a piece of the pie.
More Countries are Embracing Favorable Crypto Regulations
It reflects the shifting regulatory stance in favor of Bitcoin and the crypto segment at large. A complete 180 from the anti-crypto stance and sentiment that governments across the world held for the longest time.
To put things into perspective, Hong Kong is a Chinese administrative region. This means Chinese institution will have the ability to invest in crypto with less friction.
Meanwhile, South Korea reportedly passed a bill recently to postpone crypto capital gains taxes for 2 more years. The bill will reportedly boost Bitcoin and altcoin adoption in the country.
This follows a recent announcement that Russia has a proposal for a strategic Bitcoin reserve. These developments underscore the changing regulatory crypto situation across the world.
Institutional liquidity could accelerate the crypto bull run in 2025. Analysts anticipate that more countries will likely jump on the idea of Bitcoin as a reserve asset. This is yet another major catalyst that could further solidify Bitcoin and altcoin bullish dominance.
Cracks in the traditional financial systems across the world could further support the Bitcoin reserve asset narrative. All these developments and potential eventualities signal that 2025 could be an interesting year for the crypto market.
