Blockchain Press Releases
One in six asset and wealth management companies will be swallowed up or fall by the wayside in the next five years: PwC Global Asset & Wealth Management Survey
- Global assets under management (AUM) fell to US$115.1 trillion in 2022 – nearly 10% below the 2021 high (US$127.5 trillion) – representing the greatest decline in a decade
- AUM to rebound by 2027, reaching US$147.3 trillion – representing a compound annual growth rate of 5%
- More than 90% of asset managers are already using disruptive tech like AI, big data, blockchain. Assets managed by robo-advisers will reach US$5.9 trillion by 2027, more than double the figure of US$2.5 trillion in 2022
- Inflation, market volatility, and interest rate movements are by far the biggest concerns for investors and asset managers over the next 12-24 months
- Nearly three-quarters (73%) of asset managers are considering a strategic consolidation with another asset manager
- Top ten largest asset managers to control around half of mutual fund assets globally by 2027, up from 42.5% in 2020, with private markets to account for up to half of AWM revenues by 2027, up from 37.6% in 2020
LONDON, July 10, 2023 /PRNewswire/ — One in six (16%) asset and wealth managers globally are expected to be swallowed up or fall by the wayside by 2027, twice the historical rate of turnover, according to PwC’s 2023 Global Asset and Wealth Management Survey, published today.
The report, based on PwC’s latest industry projections and a survey of 250 asset managers and 250 institutional investors, paints the picture of an industry grappling with a set of challenges – digital transformation, shifting investor expectations, consolidation and “retailisation”.
As a result, 73% of asset managers are considering a strategic consolidation with another asset manager in the coming months in order to gain access to new segments, build market share and mitigate risks.
Firms are also turning to technology to transform, with more than 90% of asset managers already using disruptive technological tools (including big data, AI and blockchain) to enhance investment performance.
A direct consequence of these pressures – and the drive to deliver at scale amid cost and competitive pressures – is that by 2027, PwC expects the top ten largest asset managers to control around half of all mutual fund assets globally, up from 42.5% in 2020.
Asset managers faced a tough year in 2022, with global assets under management (AUM) falling to US$115.1 trillion, nearly 10% below the 2021 high (US$127.5 trillion). This represented the greatest decline in a decade. The survey finds that inflation, market volatility and interest rate movements are by far the biggest concerns for both investors and asset managers over the next 12 to 24 months. However, AUM are expected to rebound by 2027, reaching US$147.3 trillion (representing a compound annual growth rate (CAGR) of 5%).
Olwyn Alexander, Global Asset & Wealth Management Leader, PwC Ireland, said:
“Existential challenges are sweeping the asset and wealth management industry against a backdrop of social, economic and geopolitical disruption. The choice is simple – adapt to the new context or fail. Firms that effectively leverage technology such as generative AI and robo-advisors, build meaningful inroads to new and existing customers, diversify their recruitment, and deliver exceptional client experiences will be well-positioned to not only survive, but thrive.”
Other key findings and themes from the report include:
Asset and wealth managers are turning to AI, disruptive technologies and individualised indexing
PwC predicts assets managed by robo-advisers will reach US$5.9 trillion by 2027, more than double the figure of US$2.5 trillion in 2022. Individualised indexing is also gaining popularity, particularly among investors seeking tax optimisation benefits, as well as those interested in ESG, factor investing and algorithmic portfolio construction. Nearly 40% of institutional investors are planning to invest in custom indexing products in the coming 12 to 24 months, whereas almost half of asset managers expect to add individualised indexing solutions to their offering. By 2027, PwC expects direct indexed AUM to have more than tripled to US$1.47 trillion, roughly 1% of total AUM, while active ETFs are forecasted to rise from US$4.6 billion to US$1.1 trillion – accounting for 7.5% of the global ETF market by 2027.
Private markets to drive AWM growth and returns
The report demonstrates that as the global economy heads back into growth, and inflationary and interest rate pressures ease, global AWM revenues will bounce back to reach US$622.1 billion by 2027, topping the record highs of US$599.4 billion generated in 2021. PwC expects this increase to be led by a continued surge in private markets revenues, which will account for around half of global AWM revenues by 2027, up from 37.6% in 2020. Private markets, which represented 10.6% of AUM in 2022, will drive 49.7% of global revenues by 2027. Meanwhile, passives are set to drive just 6.4% of global revenues by 2027, despite accounting for 26.4% of global AUM in 2022.
APAC and emerging markets to set pace of growth
Asia-Pacific, along with emerging markets in Africa and the Middle East, will set the pace of growth in AUM. In PwC’s base-case scenario, growth rates in Asia-Pacific will be roughly 50% higher than in North America by 2027. Previously slow industry expansion in the Middle East – due to complex regulatory environments – is expected to pick up, as AWM organisations seeking new markets for revenue growth have renewed impetus to make inroads into these highly valuable regions.
Purpose, DE&I and ESG are imperative
AWM organisations are embracing purpose-led growth and ESG in areas such as funding for the net-zero transition alongside imperatives to improve diversity, equity and inclusion (DEI) across the industry. More than half (57%) saw employees increasingly demand disclosures on the organisation’s impact on the economy, with 50% demanding disclosures over ESG matters. However, only 37% say employers are taking action around improving DEI.
John Garvey, PwC Global Financial Services Leader, PwC United States, said:
“The rebound in equity valuations over the first six months of 2023 is a testament to the resiliency of the markets and the benefits of diversification. We’re in fact already seeing the emergence of a new breed of investment firm: AI tech-enabled, customer-focused and prepared to operate across a wide range of asset types, both within and outside traditional asset and wealth management.”
About PwC: At PwC, our purpose is to build trust in society and solve important problems. We’re a network of firms in 152 countries with nearly 328,000 people who are committed to delivering quality in assurance, advisory and tax services. Find out more and tell us what matters to you by visiting us at www.pwc.com. PwC refers to the PwC network and/or one or more of its member firms, each of which is a separate legal entity. Please see www.pwc.com/structure for further details. © 2023 PwC. All rights reserved.
About the survey: PwC’s 2023 Global Asset and Wealth Management Survey is an international survey of global asset managers and institutional investors. The asset manager survey sample comprised 250 respondents. The respondent base was cross-sectional in terms of role, firm size and tranche. The institutional investors survey sample also consisted of 250 respondents. Respondents covered a broad spectrum of AUM size, with more than half boasting assets of over US$10 billion. Public and private pension funds together accounted for more than 60% of the institutional investor respondent base. The survey aimed to assess the current AWM industry’s response to recent macroeconomic and business environment changes, gather insights on the direction in which those changes are likely to take the industry in the coming years, and evaluate industry players’ level of preparedness for this evolution of the AWM landscape.
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Blockchain Press Releases
Bybit and St. Paul American Scholars School Furthers Partnership Commitment in Bybit’s HQ Visit
DUBAI, UAE, May 2, 2025 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, extended a warm welcome to an international delegation from the St. Paul American Scholars (SPAS), a top international school in Korea on Monday. The visit is part of a joint initiative between Bybit and SPAS dedicated to fostering the next generation of blockchain innovators through a series of academic and educational programs.
Ryan Kim, Head of SPAS, and Jinny Kim, Director of SPAS, were greeted by Helen Liu, COO of Bybit at the Bybit headquarters in Dubai. The official visit underscores the institutions’ shared commitment to building the partnership from the ground up, and creating a knowledge base to prepare SPAS students for the future of technology and the blockchain-enabled economy.
In the academic year of 2025/26, Bybit has committed a $100,000 scholarship to 300 SPAS students of St. Paul American Scholars (SPAS). The broader theme of the collaboration centers on collective learning and community sharing, which aligns with SPAS’s philosophy of building a closely knitted community for educators, parents, and students. Bybit will organize interactive educational sessions on campus to fill the knowledge gap between the demands for future-ready skills and traditional academic resources.
The fast moving blockchain landscape is central to a changing world. Parents and students today are increasingly aware of the possibilities and potential challenges of the dawning on-chain economy. The new dynamics will require creators and contributors to be equipped with understanding of blockchain technologies, to develop their passion, and to project their creativity onto positive causes. Through workshops and interactive events, the Bybit and SPAS initiative stands to leave a profound impact on blockchain education for international students in SPAS.
SPAS representatives boarded the crypto express to the world of digital assets at the Bybit headquarters, sharing unique perspectives as educators and first-hand insights from Liu at the frontier of the digital economy.
“We are proud to welcome the SPAS family to Bybit’s headquarters, and we hope this will become the starting point of SPAS students’ blockchain journey. The value of blockchain education is not only giving students a headstart in understanding the digital economy, but also to inspire them to think about changing the world for the better with a powerful technology that will one day be entirely at their disposal,” said Helen Liu, COO of Bybit.
“It is a great honor for Saint Paul International School to establish a meaningful partnership with Bybit, a global leader in blockchain technology. This visit to Bybit’s headquarters in Dubai was more than just a meeting; it was a precious opportunity to build a foundation of deep mutual trust,” said Ryan Kim, Head of SPAS. “Bybit’s warm-hearted commitment to providing scholarships for Saint Paul International School students and planning continuous social contribution programs deeply moved us all. We firmly believe that, with its sincere vision and values, Bybit will continue to shine as a world-leading company,” he said.
The SPAS delegation toured the Bybit Crypto Ark Experience Store, a new venue at Bybit’s Dubai headquarters that showcases blockchain innovation and provides an open space for crypto collaborations. Since opening, the store has attracted hundreds of visitors, entrepreneurs, and crypto enthusiasts contributing to the regional ecosystem.
Established in 2015, SPAS operates four campuses across Korea’s major metropolitan areas and is recognized as a leading American educational institution with full accreditation from multiple organizations. SPAS also offers international exchange programs through partnerships with schools in New York, Canada, and the UK, providing students with opportunities to experience diverse cultures and global perspectives.
#Bybit / #TheCryptoArk
About Bybit
Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving a global community of over 60 million users. Founded in 2018, Bybit is redefining openness in the decentralized world by creating a simpler, open and equal ecosystem for everyone. With a strong focus on Web3, Bybit partners strategically with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Discover the future of decentralized finance at Bybit.com.
For more details about Bybit, please visit Bybit Press
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Blockchain Press Releases
From Exchange to Ecosystem Builder: MEXC Celebrates 7th Anniversary at TOKEN2049 Dubai with $300M Ecosystem Development Fund Launch
VICTORIA, Seychelles, May 2, 2025 /PRNewswire/ — MEXC, a leading global cryptocurrency exchange serving over 36 million users, concluded its successful participation as a Title Sponsor at Token2049 Dubai, where the company celebrated its milestone 7th anniversary and announced a groundbreaking $300 million ecosystem development fund.
7 Years of Excellence: A Foundation for Ecosystem Expansion
The premier crypto event, which took place from April 30 to May 1, 2025 in Dubai, provided MEXC with the perfect platform to commemorate seven years of growth and innovation in the cryptocurrency space. During the celebratory “Celebra7e MEXC Cocktail Party”, Tracy Jin, COO of MEXC, delivered an inspiring opening speech highlighting the exchange’s remarkable journey.
“Seven years may sound short, but in the fast-moving world of crypto, it’s a lifetime,” Jin told attendees. “To thrive in this ever-evolving space takes resilience, vision, and trust—and we’ve only made it this far because of you.”
Jin revealed impressive growth metrics: the MEXC team has nearly doubled to 2,000 employees across Growth, R&D, and Business Support divisions. The platform now offers more than 3,000 crypto assets and has built a community of over 2.25 million Twitter followers and approximately 193,000 Telegram members.
“We’ve also hosted over 2,293 airdrop events, distributing over $136 million in rewards,” Jin added. “This is our way of thanking you for your ongoing trust and loyalty.”
$300 Million MEXC Ecosystem Development Fund Unveiled
The highlight of MEXC’s Token2049 Dubai participation was the official announcement of its $300 million Ecosystem Development Fund, signaling the company’s strategic evolution from an exchange service to a comprehensive ecosystem builder. The five-year fund represents MEXC’s commitment to fostering blockchain innovation across multiple sectors.
The fund will focus on strategic investments in public chains, stablecoins, wallets, and media platforms, providing not only financial backing but also leveraging MEXC’s exchange business cooperation to deliver enhanced value to portfolio projects. This dual approach positions fund recipients to benefit from both capital investment and operational synergies within the MEXC ecosystem.
“After seven years of market resilience, MEXC is uniquely positioned as a trusted ecosystem partner,” said Tracy Jin. “This fund represents our vision for the future of decentralized finance and our commitment to supporting the next generation of blockchain innovations.”
IgniteX: $30 Million CSR Initiative for Web3 Talent Development
Alongside the ecosystem fund, MEXC Ventures launched “IgniteX” – a $30 million, five-year CSR initiative to foster Web3 talent and innovation. The program will support early-stage startups, research, developer communities, and academic institutions, with focus on decentralized infrastructure, AI-blockchain integration, stablecoins, and fintech. IgniteX combines mentorship, education, and funding to build a future-ready ecosystem and prepare the next generation of Web3 users and leaders.
Industry Insights Shared at Panel Discussion
MEXC’s presence at Token2049 Dubai extended beyond celebrations and announcements to include thought leadership. Tracy Jin participated in a panel discussion titled “What’s Next for Crypto Markets: The Exchange Perspective” on the OKX main stage on 1 May. The discussion explored upcoming trends, challenges, and opportunities in the cryptocurrency exchange sector, with Jin offering insights drawn from MEXC’s seven years of operational experience.
During the panel, Jin emphasized MEXC’s continued focus on product innovation and market expansion while maintaining its core commitment to being “Your Easiest Way to Crypto” for users worldwide.
Successful Side Events Strengthen Community Connections
MEXC hosted multiple successful side events throughout TOKEN2049 Dubai, including the “Celebra7e MEXC Cocktail Party,” “Dao People x MEXC: VIP Party” at BIRDS, a “TR KOL Exclusive Yacht Party” aboard Xclusive Yachts, and participation in the “AFTER2049” event at Be Beach. These gatherings provided valuable networking opportunities for industry professionals, partners, and MEXC community members.
At the company’s exhibition booth, MEXC showcased its revolutionary DEX+ platform and displayed a collection of seven limited-edition anniversary merchandise items that proved popular with attendees. Throughout the conference, MEXC representatives conducted product demonstrations, engaged with visitors, and discussed potential partnerships.
Behind the scenes, Jin noted that MEXC’s service team has resolved more than 1 million user requests and recovered over $1.8 million in user assets—underscoring the company’s commitment to security and user experience.
Looking Ahead
As Token2049 Dubai concluded, MEXC’s successful participation not only celebrated its past achievements but also laid the groundwork for its future vision. The announcement of the $300 million Ecosystem Development Fund, combined with ongoing product innovations and market expansion efforts, positions MEXC for continued growth in its eighth year and beyond.
About MEXC
Founded in 2018, MEXC is committed to being “Your Easiest Way to Crypto.” Serving over 36 million users across 170+ countries, MEXC is known for its broad selection of trending tokens, everyday airdrop opportunities, and low trading fees. Our user-friendly platform is designed to support both new traders and experienced investors, offering secure and efficient access to digital assets. MEXC prioritizes simplicity and innovation, making crypto trading more accessible and rewarding.
MEXC Official Website | X | Telegram | How to Sign Up on MEXC
Risk Disclaimer:
The information provided in this article regarding cryptocurrencies does not constitute investment advice. Given the highly volatile nature of the cryptocurrency market, investors are encouraged to carefully assess market fluctuations, the fundamentals of projects, and potential financial risks before making any trading decisions.
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Blockchain Press Releases
Interlace Debuts at Token2049 to Accelerate Web2-Web3 Integration Across MENA
NEW YORK, May 2, 2025 /PRNewswire/ — Interlace, a pioneering financial innovation platform bridging traditional (Web2) and decentralized (Web3) ecosystems, is making a high-impact debut at Token2049, the world’s largest cryptocurrency conference. The event draws more than 15,000 global Web3 leaders, investors, developers, and policymakers to the heart of the Middle East’s burgeoning digital economy.
As the MENA region solidifies its status as a strategic launchpad for blockchain and digital finance, Interlace is leveraging Token2049 to highlight its global ambitions and regional integration efforts. Through a combination of keynote speeches, panel participation, side events, and interactive showcases, the company will spotlight its technological breakthroughs, regulatory strategies, and innovative Web3 solutions designed to advance financial inclusion and digital infrastructure.
Token2049 has cemented its position as the premier global platform for blockchain dialogue and innovation. With MENA emerging as a magnet for crypto and fintech enterprises—thanks to its progressive regulatory framework and strong investor base—the event provides fertile ground for companies like Interlace to scale their operations in high-growth markets.
Driving Web3 Compliance and Strategy in the Middle East
Michael Wu, Founder and CEO of Interlace, was recently invited to speak at the event Mastering Web3 Finance and Compliance: Blockchain & Beyond, where he joined a panel discussion exploring regulatory frameworks and emerging trends in the Middle East’s Web3 ecosystem. Drawing on Interlace’s extensive global experience, Wu provided a deep dive into the region’s compliance landscape. He emphasized the UAE’s regulatory efficiency as a strategic advantage for Web3 companies, stating: “In MENA, it takes only a few months to obtain a Virtual Asset Service Provider (VASP) license, whereas the same process can take up to two years in Singapore. In the United States, conflicting federal and state regulations create persistent uncertainty for businesses.” This favorable regulatory environment, he noted, has enabled Interlace to accelerate its expansion into the Middle Eastern market.
Wu also outlined Interlace’s proactive compliance strategy, highlighting early regulatory investment as a foundation for building long-term competitive advantages. “We’ve secured key licenses—including MSB (Money Services Business), MSO (Money Service Operator), and VASP—across major markets such as Hong Kong, the U.S., and Europe,” he shared. He stressed the importance of integrating technology with compliance, citing the use of biometric solutions to streamline Know Your Customer (KYC) procedures. This approach not only ensures regulatory adherence but also enhances user accessibility. “Compliance is not a cost,” Wu asserted. “It’s the foundation of brand trust. For institutional partners and investors, regulatory compliance is non-negotiable—and critical for sustainable growth.”
Addressing the convergence of traditional finance and Web3, Wu presented Interlace’s multi-license model as a blueprint for cross-border innovation. “Our crypto payment card enables seamless interoperability between on-chain digital assets and off-chain consumer transactions,” he explained. “This functionality requires a high degree of cross-jurisdictional compliance.” Wu concluded by sharing that Interlace is actively expanding its footprint in the Middle East, bringing its regulatory expertise and compliance technology to support the region’s rapidly evolving blockchain infrastructure.
Unveiling Innovation at Premier Side Events
Beyond the main conference, Interlace will engage audiences at high-profile side events including 1001 Crypto Nights, Gilded Mirage, and the Hack Seasons Conferencei. These gatherings delve into themes such as the convergence of legacy finance with decentralized protocols and the region’s unique role in accelerating Web3 adoption.
Interlace will showcase its Card-as-a-Service (CaaS) API solutions tailored for the PayFi sector, as well as its custom-designed physical banking cards—which double as exclusive, limited-time gift cards. These cards demonstrate real-time “on-chain to off-chain” transaction capabilities, offering attendees a tangible experience of seamless Web3-enabled payments.
A Strategic Leap Toward Global and Regional Impact
Interlace’s presence at Token2049 is more than a product showcase—it represents a pivotal step in the company’s global expansion and MENA market penetration. As the company deepens its engagement in the region, it aims to collaborate with local institutions to build robust, inclusive digital financial ecosystems.
Wu reflected on the significance of the Middle East in shaping the future of blockchain finance: “The Middle East is rapidly evolving from an energy stronghold into a center of digital innovation. Its open regulatory approach and dynamic capital environment make it a strategic region for Web3 transformation. At Interlace, we’re committed to co-creating resilient financial infrastructure with local partners—enabling businesses and users to fully benefit from the potential of blockchain technology. We see MENA as a future global benchmark for Web3 applications.”
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