Kate Karimson, Chief Commercial Officer, R3
Next year looks set to be the year of public and private collaboration for the blockchain industry, with the US election bringing more confidence in some areas and uncertainty in others. The turnaround means the US crypto landscape will likely look significantly different by the end of 2025. Republican control of the White House and Congress is expected to enable much-anticipated legislation, clarify the role of regulators and inspire confidence while supporting industry innovation. While DLT is still gaining traction in US financial markets due to regulatory uncertainty, an established regulatory framework will provide a tailwind.
Outside the US, 2024 was a groundbreaking year of industry collaborations that demonstrate the benefits of DLT-based infrastructure. The UK RLN, led by UK Finance, involved 11 of the country’s largest banking and payments providers in creating a regulated platform for public and private digital funds, including CBDCs and tokenized deposits. With over 80 countries exploring CBDCs for both domestic and cross-border use cases, and some of them in advanced stages, it is likely that more of these projects will develop into live solutions in 2025. However, uncertainty over US Republicans’ stance on CBDCs could prompt other G7 countries to place a greater focus on domestic projects.
Rob Wing, Head of Digital Assets and FX, 4OTC
Over the last three years, we have seen more and more financial institutions enter digital asset trading. We expect this to continue into 2025 as investors continue to…
