Institutional interest in cryptocurrencies is increasing as the space continues to mature. A survey released on Dec. 8 by European investment manager Nickel Digital Asset Management found that 85% of institutional investors and wealth managers have dedicated teams to review cryptocurrencies and digital assets. The study noted that the investors surveyed manage around $108.4 billion in assets. The London-based firm also released a report in September of this year showing that 62% of global institutional investors with zero exposure to cryptocurrencies expect to make their first crypto investments within the next year. 

It’s also notable that Wall Street veterans are beginning to enter the crypto industry. Most recently, Matt Zhang, a former trading executive at the global bank Citi, launched a new venture fund dedicated entirely to cryptocurrency and blockchain startups. Known as “Hivemind Capital Partners,” Zhang previously noted in a Cointelegraph article that the $1.5 billion multistrategy fund will help “institutionalize crypto investing.”

Given the rising interest in cryptocurrencies from institutions, Cointelegraph spoke to Matt Zhang during Algorand’s Decipher event in Miami to learn more about Hivemind’s plans to bring crypto to institutions. Zhang also shared his thoughts on layer-one networks, cryptocurrency regulations and nonfungible tokens, or NFTs.

Cointelegraph: Thanks for joining me, Matt. Can you tell us why Algorand became your first partner and what other partnerships can be expected?

Matt Zhang: I’m a multichain maximalist and…