Peter Wuffli the former Swiss bank CEO of the largest bank UBS wants to get hold of the market opportunity the Cryptocurrency market has to offer. According to estimates the market is worth $220 billion dollar market. The former CEO of Switzerland’s largest bank is also the director of Swiss Crypto bank Sygnum. According to the interview been given by the former UBS CEO on September 26 he was very excited about the future of Crypto asset. He told the reporter of the news outlet that the opportunity is seamless as the market is quite vast and unsaturated. There have been many clients, and investors who have already contacted him for investment and consulting regarding trading in Crypto’s via fiat or traditional paper currency.
Image Source: cryptofundreport.com
The former CEO of UBS bank told that the tokenization of the company share, real estate, art, commodities is the new frontier and has tremendous growth. These domains have not yet been properly explored. He also told that there needs to be a quite a long discussions regarding the framing of laws and regulation surrounding this idea which is very new in the horizon. On his interview he was full praises on the future prospects of Distributed Ledger Technology (DLT). The former CEO of UBS told that the implementation of the Distributed Ledger Technology would bring in a great deal of simplification when it came to securing of shares and building smart contract based share register.
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The UBS CEO told that the tools like spreadsheet will become redundant and trading could take place without long settlement times and counterparty risk. He told that the Democratic Ledger Technology is about market democratization. He told that after the introduction of the DLT will create a more open, broader and easier way where assets can be exchanged without wasting time and other valuable resources.
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