[Blockchain Today Correspondent Jang Seo-yeon] Even as the uptrend of the cryptocurrency market is cooling down, it has been shown that several financial giants are cautiously approaching the cryptocurrency world.
JP Morgan & Chase CEO Jamie Dimon recently said, “I personally advise people to ‘stay away’,” Coinquara reported. “But that doesn’t mean customers don’t want it.” . In terms of assets, JP Morgan, the largest US bank, is currently evaluating the help it can provide to its clients in conducting cryptocurrency transactions.
In early 2021, the financial industry was overflowing with enthusiasm and possibilities for cryptocurrencies. Part of this is due to Bitcoin’s unprecedentedly high value from late 2020 to early 2021. There are companies that have been fascinated by the freshness of the latest cryptocurrency.
Online trading company Interactive Brokers has promised to build cryptocurrency online trading on its platform by the end of the summer. Although it does not currently support cryptocurrency payments, the company is nonetheless offering its customers the option to invest in assets that include cryptocurrencies or bitcoin futures.
ForUsAll is a platform that manages severance pay for small businesses, and has also entered cryptocurrency. The company recently announced that it has decided to work with Coinbase to allow customers to invest up to 5% of their balance in cryptocurrencies.
Both Morgan Stanley and Goldman Sachs are targeting cryptocurrency enthusiasts among their clients recently. Morgan Stanley is allowing more clients to invest in Bitcoin funds, and Goldman Sachs has opened up cryptocurrency trading through a newly assigned team.
Securities firm Fidelity investment firm also submitted an application for a Bitcoin exchange-traded fund (ETF) to the U.S. Securities and Exchange Commission. Previously, it set up a digital asset division in 2018 for cryptocurrency trading for hedge funds.
Despite a steady, cautious increase in digital asset investors, it is true that concerns remain. This is also associated with the high volatility of the market, particularly reflected in Bitcoin’s most recent surge. BTC had halved its value from $63,000 in mid-April 2021 to $34,000 in June.
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