Tokenization demand is no longer tied to Bitcoin: Galaxy executive
Galaxy tokenization head Thomas Cowan says interest in tokenization is now “independent of the price of Bitcoin” as institutions have started to see the benefits.
Bitcoin’s price swings are no longer affecting institutional interest in crypto technology, such as tokenization, meaning it now has a solid leg to stand on its own, according to Thomas Cowan, head of tokenization at Galaxy.
Cowan told Cointelegraph at The Bridge conference in New York City on Wednesday that there has been a “separation of the interest in tokenization from the price of Bitcoin” over the past few months.
“In previous cycles, as Bitcoin and other alts have run up, there’s been an interest in tokenization, all the major traditional financial institutions have built out their crypto and tokenization teams, and then when the prices have crashed, those teams have gotten much smaller,” he said.