Binance Launches Web3 Wallet, HSBC to Offer Crypto Custody, Grayscale and Deribit Show Institutional Interest in Altcoins
-
Binance released a self-custody Web3 wallet for interacting with DeFi that uses multiparty computation to remove the need for seed phrases.
-
HSBC plans to launch a digital asset custody service for institutional clients in 2024, starting with tokenized securities.
-
Grayscale's Chainlink investment product is trading at a 200% premium, suggesting strong institutional demand.
-
Deribit's options-implied volatility spread between ETH and BTC has narrowed, indicating a shift in focus to altcoins.
-
Tokenization of real-world assets could become a $16 trillion industry by 2030 according to BCG.