TL; DR Breakdown
- LionTree is considering a crypto payment option
- LionTree chairman commends the sector
- The firm will consider developing its token
Digital assets have seen massive wins in the last few years, with companies exploring their different use cases. Asides from being used for profits, it enables users to exchange money for goods and services faster. In another win for the crypto sector, Wall Street-based investment, LionTree has announced that it will start looking into digital assets as a means of payment.
LionTree chairman commends the crypto sector
According to a recent report, this idea was communicated through the firm’s chairman, Aryeh Bourkoff, in a letter. In the letter, Bourkoff noted that digital assets had been one of the go-to instruments in the financial sector across the last few years. He noted that the asset and its sector provide massive potential in the financial market.
In his statement, the chairman pointed at the decentralized finance sector and the burgeoning non-fungible token sector as the latest innovations in the sector. He noted that the digital asset sector made its claim in the financial market after its entire market cap touched above $3 trillion.
He noted that the rise resulted from individuals looking for profits and hedging their funds. His statement also talked about LionTree considering infusing a crypto payment option on its platform. Bourkoff noted that the firm is already in talks to provide users of its services to pay using several digital assets.
The firm will consider developing its token
Bourkoff also mentioned that the firm might eventually consider creating its LionTree token in the not-so-distant future if all things go according to their plan. Although he commended what the market has achieved since the start of this year, he also mentioned some areas that need special monitoring.
In his statement, Bourkoff said miners must ensure they use energy-efficient mining equipment. He also advised platforms to provide an easily accessible interface where traders and other market participants can easily carry out their activities. Although LionTree is still growing, the firm has achieved several things this year.
According to Bourkoff, LionTree has put pen to paper on some partnerships amid other key acquisitions that the company has made. One of the highlights of the firm was the unification of WarnerMedia and Discovery Inc. Asides from that, LionTree worked on Amazon’s takeover of MGM studios.