Uphold’ s Robin O’ Connell explains how 11 years of infrastructure development enable three-month launches for established financial institutions
UPHOLD
Uphold’ s Robin O’ Connell explains how 11 years of infrastructure development enable three-month launches for established financial institutions
Traditional financial institutions are increasingly recognising that their customers want access to cryptocurrency markets. Yet the infrastructure required to offer these services safely presents a complex web of technical and regulatory challenges that can take years to untangle.
The barriers are substantial. Payment processing for digital assets operates differently from conventional e-commerce systems. Regulatory requirements vary significantly across jurisdictions.
Blockchain integration demands specialist expertise. Each layer of complexity adds months or years to development timelines.
Robin O’ Connell, CEO of Uphold’ s Enterprise Business Unit, has witnessed this challenge repeatedly during his decade in cryptocurrency markets.
The question facing established financial institutions, he argues, is whether building these capabilities independently makes commercial sense.
“ There would be many more entrants to the market if they didn’ t need the two to three years and millions of dollars to set all this up,” Robin explains.“ They want to get in there and offer services to their consumers, focusing on what they’ re experts at.” fintechmagazine. com 57