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The recent release of Paxos’ 2023 Institutional Digital Asset Adoption Survey offered deep insights into the evolving landscape of digital assets in the global financial sector.
Paxos Enterprise Digital Asset Adoption Study Reveals Momentum Towards a Digitized Financial Future
As the adoption of digital assets expands, financial institutions are shifting from merely expressing interest in these assets to accepting them as integral components of their strategic frameworks.
In an era where blockchain solutions are at the forefront of financial innovation, the survey found that a staggering 99% of financial services companies are actively pursuing blockchain solutions.
This significant interest underscores the transformative potential of digital assets, despite the complexities associated with their implementation.
A notable trend highlighted in the report is the shift from viewing digital assets as an innovation to their adoption as core elements of business operations.
This transformation is important not only for the adoption of the technology, but also for its potential impact on customers and the wider future of finance.
The survey explores businesses’ specific intentions regarding the use of digital asset technologies. When asked about the benefits sought through these solutions, the following emerged as the most common goals:
- Increasing Customer Loyalty: 56%
- New Customer Acquisition: 55%
- Improvement of Settlement Operations: 54%
An important conclusion from the report is that the integration of digital assets into existing systems and markets, which is a concern for many organizations, is not as challenging as previously perceived.
This awareness is especially evident when such integrations are facilitated by experienced, trusted and regulated partners.
*This is not investment advice.
