This report examines a specific subset of the cryptocurrency marketplace in 2018 from the perspective of a Tier I investment banking FX business and trading model. Cryptocurrencies have existed in theory for decades, and Bitcoin – which is 2018’s most commonly-traded cryptocurrency – is now 10 years old. To date, discussion of cryptocurrencies within the capital markets industry generally has largely been highly divisive, with crypto evangelists praising them on the one hand, and sceptics dismissing them and their underlying distributed ledger technology (DLT) as a fad.
