An overview of fintech and cryptoassets
What are cryptoassets?
Cryptoassets are a kind of digital asset. One aim of cryptoassets is to create a decentralised financial system without the involvement of, for example, governments or central banks. Most cryptoassets are unbacked and their price is often volatile. There are some cryptoassets, however – known as stablecoins – that are intended to maintain a stable value over time. This is often achieved by backing them with a reserve of assets. Many cryptoassets have so far been used to make speculative investments and to a relatively small extent as a means of payment. There has also been a rise in different financial products that have cryptoassets as their underlying asset. There is relatively little data available concerning cryptoassets, although most indications so far suggest that it is primarily private individuals who have invested in cryptoassets. Data suggest that Swedish cryptoasset holdings are relatively low compared with other countries.
Published: 19 May 2022