Hwang Hyeon-cheol, a former Citi and Allianz executive who worked on Wall Street for over two decades, has said that the valuation of the crypto market is still smaller than Samsung, the largest conglomerate in South Korea.

The former Wall Street executive turned crypto investor and the CEO of Atomrigs, a digital asset custodian in the cryptocurrency market of South Korea, told a local publication in an interview that institutional investors are key in increasing the inflow of capital into the new asset class.

In the past, prior to 2018, Hwang emphasized that it was virtually impossible for institutions to invest in the cryptocurrency market due to the lack of custodial solutions.

Due to the exponential progress in the institutionalization of cryptocurrencies in the last six months, Hwang said that he expects the trend to drastically change in 2019.

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