- In December 2021 and January 2022, the surveys were conducted.
- Results were drawn from surveys of more than 500 financial advisers and 3,200 investors.
Accenture, a consulting business, released an industry poll on Monday that found that Asian wealth managers are hesitant to sell digital assets to clients because they lack the necessary knowledge. For the last several years, global banks have been gingerly integrating crypto into their present operations and launching new companies.
On Monday, Accenture said:
“Currently, 52 percent of affluent investors in Asia hold digital assets of some sort. Accenture’s research indicates this could reach 73 percent by the end of 2022.”
Fifth Largest Asset Class in Asia
As part of Accenture’s analysis of the future of the Asian wealth management sector, the results were drawn from surveys of more than 500 financial advisers at Asian wealth management companies and 3,200 investors. In December 2021 and January 2022, the surveys were conducted.
Further, the business stated:
“Digital assets represent 7% of surveyed investors’ portfolios — making it the fifth-largest asset class in Asia — more than they allocate to foreign currencies, commodities or collectables. Yet two-thirds of wealth management firms have no plans to offer digital assets.”
When DBS Group introduced a cryptocurrency trading platform in December 2020 for authorized individuals and corporate investors, it was the largest bank in Southeast Asia at the time.
Last month, Nomura Holdings said that it would form a digital asset firm this year that would enable institutional investors to trade items tied to cryptocurrencies, as well as other digital assets, such as blockchain technology. Meanwhile, the cryptocurrency market has experienced a rise. BTC is now trading at $31,576 according to CMC, avoiding a tenth straight weekly red candle.
