07 / 07 / 21
In the last few years, the adoption of blockchain technology, with respect to cryptocurrency, in particular, has reached out to wealth managers as well and several companies from the niche have started evolving their traditional use cases.
A couple of weeks ago, SIMON Markets LLC, an award-winning FinTech company providing wealth management services, announced that they plan to embed cryptocurrencies in their offerings. Unlike their competitors, who just switch over to new technology, SIMON has a robust plan to educate its clientele so the output could be maximized. Therefore, with these two approaches, they are likely to dominate the wealth management market if no other competitors educate their clientele.
This trend shift is not new as SIMON is known for incorporating the latest technologies in its offerings and has always been very keen to bring innovation and scalability to the market. As a result of this, they have successfully navigated through several industry-wide challenges that are not even known to SIMON’s customers now due to their continuous iterative progress.
It should also be noted that SIMON has a keen focus to enhance visibility and transparency in their processes for both the end-users and wealth managers. This is also one of the driving reasons why they are eager to adopt blockchain-based use cases and crypto is the initializing vector for this approach. Later on, they could move on to tokenize their offers and also, provide crypto as a mode of payment for an array of offerings.
To give you more idea about SIMON’s offerings and enable you to understand the depth of impact, please note they currently have a distribution network spanning over 50 organizations, which is massive already and is expected to grow once they enhance the technology base as well and gain more traction.
Since they are providing the necessary education and platform way before their partners could even start the research on the subject matter, SIMON would be ready well in time. Therefore, whenever one of their distribution partners or wealth management firm decides to adopt blockchain technology, a robust platform to support the offerings would already be in place at a significantly mature level.
The recent adoption was also appreciated and well announced by SIMON’s Chief Business Development Office in a statement The evolution in how crypto is used today is two steps ahead of the wealth management industry. “We’re witnessing a turning point in the adoption of digital assets, and education is a powerful, if not the most powerful, point of entry. The expertise and unified experience SIMON can deliver to financial professionals is what they have been waiting for—invaluable resources at their fingertips and the award-winning support they’ve come to expect from SIMON as they explore an expanding market.”
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