US banking giant JPMorgan has made a new move into cryptocurrency. According to Bloomberg, JPMorgan Chase is considering offering cryptocurrency trading services to its institutional clients.
According to reports, the Wall Street bank is evaluating which crypto products and services its markets division could potentially offer to institutional clients. The review reportedly covers both spot and derivatives trading. If the bank decides to offer crypto products and services, it will enable both spot and derivatives trading.
According to Bloomberg, the plans are still under consideration and have not yet been made public. The decision on whether to actually offer cryptocurrency products and services is expected to be made after a comprehensive assessment of customer demand, the regulatory environment, and risks.
JPMorgan also continues to provide 24/7 transaction and transfer services to its institutional clients via the JPM token.
Similar moves to JPMorgan’s are continuing in the global banking sector. In this context, Standard Chartered has started offering Bitcoin and Ethereum spot trading services to its corporate clients through its UK branch.
Italian giant Intesa Sanpaolo buys Bitcoin through its own digital asset trading organization, while Goldman Sachs already trades digital asset derivatives. Finally, industry giant BlackRock also manages large amounts of assets through its Bitcoin ETF.
*This is not investment advice.
