With the coming on board of regulation for block chain technology and particularly, crypto currency, financial service providers may have to work together with crupto currency companies in order to ensure a sustainable financial system.

This has become necessary due to the growing acceptance of the technology on the globe to complement the services of banks.

President of the, African Consolidated Exchange, ACEX lan Mvula told Journalists in a virtual webnar that regulation is catching up and industry players must come together.

“Crypto is here to stay and with the ongoing development of regulation across the globe especially from America and Europe, there’s no form of competition but rather what is needed is collaboration. Because banks will have some interconnection with crypto currency when regulation sets in hence the need to collaborate. I can assure you that banks will start going into crypto big time when regulation begins to catch up” he noted.

The Virtual Webnar by the African Consolidated Exchange, ACEX is aimed at announcing a rebound of its platform which is expected to enhance trading by holders of Temcoin.

According to the President, Ian Mvula, many banks may be forced into crypto currency when authorities begin its regulation process hence the need for collaboration to sustain the financial sector.
He believes that Crypto is here to stay.

He used the occasion to assure clients and shareholders of ACEX that the market will be ready to trade it’s Temcoin on the platform from this month.

The African Consolidated Exchange is created by T.E Markets to allow Africans control the prices of commodities on the continent.