According to a study, the number of wealth management specialists in the US will rise up to 44% with an approx. 33% increase in the number of customers. Most of these customers are expected to be crypto-holders. Approximately 153 respondents who participated in Arizent Research’s 2022, 60% of respondents stated that cryptocurrency share will increase in the future while only 4% of respondents think it will decrease.
The results also suggest that future cryptocurrencies will dominate the investment circle. However, it has also been observed that rising cryptocurrency reputation raises bank concerns. Traditional banks are already facing the functional challenges posed by fintech and payment companies, in addition to the US own virtual currency discussions.
In the last three years, only four out of ten banks have been booming traditional credit scoring cards with loyalty and rewards, according to a study report. This is due to a variety of offensive threats targeting credit cards, including virtual pricing options such as PayPal and Venmo, and projects backed by the Federal Reserve.
