Financial giants get on board, how do encryption trading platforms respond to the new order?

Traditional finance is gradually entering the encryption currency field, which poses new challenges and opportunities for encryption trading platforms. Starting with Robinhood, more and more traditional financial institutions are beginning to offer encryption currency trading services, such as Charles Schwab, Morgan Stanley, JPMorgan Chase, and Standard Chartered Bank. These financial giants possess enormous asset scales, a complete compliance system, and a broad user base, gradually encroaching on the core business of encryption trading platforms.

In the face of this situation, encryption trading platforms have taken various measures to respond. Many platforms have begun to launch "coin stocks" products, allowing users to trade traditional stocks with cryptocurrency. Although this approach has attracted some attention, the activity level quickly fell back, and the results were not ideal. At the same time, platforms are also actively seeking compliance transformation, applying for various licenses, adjusting business structures, and bringing in executives with traditional financial backgrounds, in an attempt to integrate into the mainstream financial system.

However, this compliance transformation is not an easy task. The traditional financial system is built on a chain of responsibility and a closed loop of trust, requiring a transparent customer structure, strict risk control, and auditing capabilities. Many encryption platforms find it difficult to meet these standards, and even if they obtain licenses from some small countries, they struggle to truly enter the mainstream financial system.

Nevertheless, some platforms have made progress on the road to compliance. For example, a certain platform became one of the first centralized trading platforms to obtain a European MiCA license and established its European headquarters in Vienna. Another platform has also obtained virtual asset licenses in multiple countries and is actively promoting the application for the MiCA license. These efforts demonstrate the determination of the encryption industry to gradually integrate into the traditional financial system.

For encryption trading platforms, the current period is filled with challenges and opportunities. They may no longer be the central role in the encryption world, but they are still striving to find new positioning and direction for development. Some platforms believe that the impact of cryptocurrencies on traditional finance may be greater than the latter's squeeze on encryption trading platforms, as the two financial worlds are merging and influencing each other.

However, many issues remain unresolved. Will regulators truly accept these encryption trading platforms? Are traditional financial institutions willing to co-create a new financial ecosystem with encryption platforms? Do encryption platforms still have the opportunity to redefine their roles? The answers to these questions will gradually be revealed in the future.

In this uncertain time, encryption trading platforms are striving to maintain the status quo while seeking new opportunities. They are facing a reshuffling wave in the industry and need to find a balance between maintaining innovation and adapting to new rules. Regardless of the outcome, the collision between traditional finance and the encryption world will undoubtedly reshape the entire financial industry's landscape.