Nabil Manji, Worldpay's head of crypto and web3, describes his firm as "one of the largest companies that most people have never heard of," since Worldpay plays a relatively behind-the-scenes role facilitating the "plumbing" of different aspects of the global financial system.

In this episode of The Scoop, Manji discusses how Worldpay is positioning itself to expand its digital asset infrastructure and the ways that traditional financial institutions have adjusted their digital asset strategies in the wake of last year's crypto meltdown. Worldpay was acquired by payment services giant Fidelity National Information Services (FIS), a Jacksonville, Florida based firm in 2019 for $35bn.

According to Manji, many firms from traditional finance are continuing to build out infrastructure for digital assets while also reducing speculative exposure to the asset class:

"If you look at some of the larger financial services technology providers, and in some cases a lot of the larger banks, they're continuing to invest on that technology adoption side even while simultaneously pulling back on the more speculative investment side."

Although many institutions are still following through on plans to provide services for digital assets, Manji also says the problems in the industry exposed over the past year need to be addressed:

"The challenges presented over the past nine months and some of the problems that those of uncovered are very material, and until some or all of those are meaningfully addressed, I do think it's going to delay or postpone the pace at which institutions and enterprises in financial services might have leveraged digital assets or the underlying technology."

During this episode, Chaparro and Manji also discuss:

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