RadioShack Plans To Bring Older CEOs Into The Crypto Space, Plans To Launch Exchange

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U.S. retailer RadioShack, which rebranded to a web-based brand in 2020, plans to venture further into the crypto market as an exchange platform. Building on its well-established reputation in the market, the company plans to target older CEOs and help them enter the crypto space. Citing research, the RadioShack website says the average age of CEOs in companies is 68, but people of that age often refrain from trying new technologies.

The company, which recently launched its own native RADIO token, believes cryptocurrency companies are not taking the “old-fashioned, customer-feel-good” approach to convincing older investors to enter the crypto space.

“There is a real generational gap between the average crypto buyer and the average trade decision maker. This demographic difference creates a substantial psychological barrier to the adoption of crypto. “We will be the bridge between the CEOs who run the world’s businesses and the new world of cryptocurrency,” the company’s website states.

Earlier this month, the century-old company founded in 1921 also launched RadioShack DeFi (decentralized finance). These DeFi systems make financial products appear on the public blockchain without falling under the regulation of banks and national or international administrations.

“Crypto hasn’t even started yet. What an opportunity for those who are entering the market quickly,” an official RadioShack blog said.

The cryptocurrency market is booming internationally. Right now, the global crypto market capitalization is around $ 3 trillion (around Rs. 2 15 6 6 720 crore) according to data from CoinMarketCap.

The year 2021 has also become a benchmark for the crypto market in other respects.

For example, a recent report by PitchBook Data found that crypto-related firms collectively raised over $ 30 billion (roughly Rs.227,617 crore) from venture capital firms in 2021, making it the highest collection to date. In 2018, the same number was $ 8 billion (around Rs. 60,704 crore).

Interested in cryptocurrency? We discuss all things crypto with WazirX CEO Nischal Shetty and WeekendInvesting Founder Alok Jain on Orbital, the Gadgets 360 podcast. Orbital is available on Apple Podcasts, Google Podcasts, Spotify, Amazon Music and wherever you get your podcasts. Affiliate links can be generated automatically – see our ethics statement for more details.

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