As interest in cryptocurrencies grows among traditional financial firms, major Wall Street banks are shifting to directly building blockchain and digital assets, Cointelegraph reported on Thursday.
JPMorgan is introducing its dollar deposit token, JPM Coin, on new blockchain infrastructure. JPM Coin is a digital asset based on JPMorgan dollar deposits and is also set to operate on the Canton blockchain network.
Morgan Stanley is preparing to launch exchange-traded funds based on bitcoin and Solana. Morgan Stanley has applied to the U.S. Securities and Exchange Commission to launch bitcoin and Solana ETFs, and if approved, 19 million Morgan Stanley customers will be able to invest directly in cryptocurrencies.
Barclays invested in stablecoin infrastructure. Bank of America recently added four bitcoin ETFs to its coverage list, and the likelihood is rising that it will recommend the products to customers via its Merrill Lynch platform. Wall Street is moving to integrate cryptocurrencies directly into the financial system rather than treat them as a matter of debate, Cointelegraph said.
Chi-gyu Hwang
delight@d-today.co.kr