ARCHIVES
VOL. 7, ISSUE 2 (2025)
Evaluating the viability of cryptocurrencies: Insights from the financial services industry in New York City
Authors
Dr. Dariusz S Przywalny
Abstract
Cryptocurrencies have yet to see widespread adoption,
and their potential to replace national currencies like the U.S. dollar remains
uncertain. This study examined adoption trends among financial institutions in
the New York City Metropolitan Area through interviews with cryptocurrency
professionals and a literature review. A multiple-case study approach focused
on banks, asset managers, and exchanges. Encouraging factors included fast
transactions, low costs, security, and innovative technology. However, adoption
is hindered by unclear regulations, volatility, user education costs, and
service and usability issues. Although replacing the U.S. dollar is unlikely,
cryptocurrencies still offer benefits. Financial institutions could leverage
them to create simple, secure, and cost-effective financial products and
services.
Download
Pages:11-16
How to cite this article:
Dr. Dariusz S Przywalny "Evaluating the viability of cryptocurrencies: Insights from the financial services industry in New York City". International Journal of Finance and Commerce, Vol 7, Issue 2, 2025, Pages 11-16
Download Author Certificate
Please enter the email address corresponding to this article submission to download your certificate.