As the digital assets industry is shoring up expertise to strengthen security, improve education and re-build trust, Hao Xia, Co-Founder and CGO, LTP, details the changes the industry has faced and the outlook for progress…
As the digital assets industry is shoring up expertise to strengthen security, improve education and re-build trust, Hao Xia, co-founder and CGO, LTP, details the changes the industry has faced and the outlook for progress…
What have been the biggest drivers of growth within your business?
The increasing demand for trustworthy and reputable partners in the complex and constantly evolving cryptocurrency trading industry has led to significant growth for LTP. We provide investors and traders with access to liquidity, trading tools and platforms, custody and security solutions, and other essential services.
Our expansion into new markets has also been a major growth driver, allowing us to establish a presence in emerging regions with high demand for trading services. With a strong global presence in 22 countries and regions, we continue to capitalise on emerging opportunities and maintain our competitive edge.
Also, our continuous innovation in technology and services has driven growth by attracting and retaining clients through staying ahead of the curve. By investing in cutting-edge technology, a transparent and multi-party trading custody system, we maintain a competitive advantage over rivals.
Finally, building strong partnerships with key industry players has been a crucial driver of growth for LTP, positioning us as a leader and attracting clients who value our network strength. Our partnerships with Ceffu and Fireblocks and other institutions have helped us to enhance the security and transparency of our custody operations. To learn more about LTP’s services and partnerships, please visit our website at https://liquiditytech.com/.
What has been the most significant change you’ve observed in the industry?
Without a doubt, 2022 was an unfortunate year for the market. In particular, the Luna Crash and then the FTX scandal have severely affected and shattered whatever trust in centralised digital asset crypto entities there was. Working on solutions to restore trust in centralized platforms is essential but that will take time. However, once regulation in the space is finalized, and proper governance is established, investors may feel more comfortable trusting centralized crypto entities with their assets.
Another issue is the lack of understanding and awareness about digital assets among the general public. Factors as such can hinder adoption and growth in the industry. Through education and networking events, people can become more aware while learning of the benefits and the risks associated with digital assets. There is still lots of work to be done where this is concerned.
Which are the most significant challenges in the digital assets industry right now and how can they be best mitigated?
The digital assets industry faces significant challenges, including security, penetration, and lack of trust. Security risks can be mitigated through secure custody solutions and multi-factor authentication. To manage volatility, diversifying assets and implementing hedging strategies can help. To overcome a lack of awareness and understanding, education initiatives and networking events can help the public understand the benefits and risks of digital assets. Restoring trust in the industry after incidents such as the FTX crash is essential. By addressing these challenges, the industry can continue to grow and attract new investors.
What are the three key pieces of advice you would give clients in the current environment?
Navigating the digital assets landscape can be challenging, but there are steps clients can take to minimise risks and make informed decisions – Prioritise safety and stay informed of industry developments. While the industry is expanding rapidly, it’s important to remain patient as growth and development take time.
In addition, conducting thorough research and remaining vigilant are crucial for success in this unpredictable market. Ultimately, a cautious approach and patience are key to success in this rapidly-changing space.
Hao Xia, co-founder and CGO, LTP – As the co-founder and CGO of LTP, Hao Xia is in charge of business expansion and oversees the day-to-day operations of the company. Hao officially started investing and trading cryptocurrencies in 2013. As an experienced trader himself, he has accumulated industry knowledge while also witnessing the market’s shifting dynamics. Hao started his career in the banking industry but decided to dip his toes into crypto when he served as OKX’s liquidity manager from 2019 to 2021. He holds a bachelor’s degree in investment & assets evaluation and graduated from the Australian National University with a master’s in finance.