Report: U.S. financial firms remain keen on cryptocurrencies despite obstacles to deployment

A report from encryption company Paxos shows that 99% of surveyed US financial services companies are paying the same or more attention to encryption projects this year than in previous years. According to the survey results, despite the overwhelming interest in adopting crypto-related technologies, these companies still face various obstacles and challenges. Fifty-six percent of respondents said deployment complexity is the biggest barrier to rolling out encryption solutions. However, Paxos said: “The resilience of digital assets and blockchain technology in the face of market events, economic challenges, and the need for clearer regulations reflects that companies have internalized the long-term value of this technology.” It is reported that Paxos surveyed 400 executives from U.S. financial services companies that have at least 5 million users, $50 billion in assets under management, and $50 billion in annual payments. (Cointelegraph)