Cryptocurrency Update

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Australian 2021 Cryptocurrency Survey: Aussies to buy up

The Savvy 2021 Australian Cryptocurrency Survey has examined Australians’ intentions with cryptocurrencies this year. The survey asked 1,000 Australians their thoughts.

Key findings include:

  • 40 per cent of Australians intend to buy cryptocurrency in 2021

  • 17 per cent of those surveyed already own a form of cryptocurrency, with 15 per cent of those having investments of up to $5,000, 2.5 per cent investing $5,000-$10,000, and 1 per cent investing $10,000-$20,000

  • 80 per cent agree that investing in cryptocurrency should be more heavily regulated

  • 10 per cent agreed that cryptocurrencies will dislodge the current banking system

  • 71 per cent of respondents either understand or are interested in learning more about cryptocurrency

  • Men (48 per cent) are more likely to claim exceptional or average understanding of cryptocurrencies than women (27 per cent)

  • Women (37 per cent) expressed a slightly higher interest in learning about cryptocurrencies than men (31 per cent)

A previous survey found that Australians prefer paying via their digital wallets, with two-thirds of that group always using a digital wallet where possible.

Savvy is an online financial broker.

First Nasdaq-regulated exchange to launch

Cyberdyne Tech Exchange (CTX), a Singapore-based tech company, is to launch a global-first regulated digital exchange for asset-backed tokens to be powered by Nasdaq technologies. The exchange will focus on green financing.

The tokens will represent value in genuine assets such as green infrastructure, equity, real estate, art, bitcoin and Ethereum. Qualified asset owners, accredited investors, institutions and corporations will be allowed to issue and trade in digital assets by the end of 2021. CTX will also provide settlement and custody of the tokens.

When an asset is tokenised using blockchain technology and smart contracts, a security token representing shares or ownership is created. This process allows greater access to assets for more investors and allows fundraising to occur with less cost, time and energy.

CTX has received it licenses from Singaporean regulators.

State Street launches Bitcoin Thematic Indicator series

State Street Corporation is launching a Bitcoin Thematic Indicator series to offer some context on the rise of cryptocurrencies, specifically bitcoin, and its impact on traditional financial markets. The series measures the intensity or prevalence relative to all bitcoin news of the day and the sentiment of news over time. Hundreds of thousands of digital news sources are analysed daily to generate daily sentiment signals for institutional investors to gauge driving forces in their portfolios and markets.

The new series is part of the State Street MediaStats Thematic Indicators offering launched in late 2020 in partnership with MKT MediaStats, a big-data information technology company with a special focus on financial markets.