According to data from CoinDesk, the number of financial intermediaries making money out of cryptocurrencies is increasing rapidly, with the number up from 0.1% in the first quarter of 2017 to nearly 5% in April 2018.
In the first half of 2018, a total of 14% of all financial intermediary firms reported earnings from cryptocurrency trading.
This number has grown by almost 5% from the same period in 2017, and is now around 25%.
It is clear that the number and quality of cryptocurrency trading platforms have increased significantly in recent months, as the volume of ICOs, which have surged in recent weeks, have increased in volume, and are increasingly accepted as a payment method by the financial sector.
While the number is still quite small, this indicates that cryptocurrencies are being used as a way to create wealth.
In the last few weeks, many financial institutions have begun to embrace cryptocurrencies as payment options, which has created a much more favorable environment for the cryptocurrencies to gain traction.
In terms of the financial industry, there are also signs that the acceptance of cryptocurrencies as a form of payment is increasing in the United States, where the cryptocurrency-as-payment movement is gaining momentum.
The U.S. Federal Reserve has recently issued guidance stating that it will begin to relax its policies for virtual currency exchanges, and has also expressed its support for cryptocurrency companies and startups, including the Ethereum Blockchain Foundation.
In China, the government is also starting to loosen restrictions on the use of cryptocurrencies.
The People’s Bank of China, China’s central bank, said in January that cryptocurrency trading would be considered legal once the country adopted a “decentralized financial system”.
In March, the Financial Services Commission of China (FSCC) also issued a statement saying that cryptocurrency should be treated as a commodity and could be traded like other commodities, with no restrictions placed on its use or its transfer.
Although cryptocurrencies have been gaining popularity in recent years, the financial system has been relatively untouched.
For this reason, the market is growing at an alarming rate, and the number for financial intermediators making money in cryptocurrencies is growing fast.