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JPMorgan Eyes Crypto Trading for Big Clients
24 Dec
Summary
- JPMorgan is reportedly exploring crypto trading options for institutional clients.
- The bank is assessing specific crypto products and services for its markets division.
- This move reflects growing client interest and increasing regulatory clarity in crypto.
JPMorgan, the largest U.S. bank, is reportedly considering offering cryptocurrency trading to its institutional clients. This initiative is in its initial phases, with the bank currently evaluating the range of crypto products and services its markets division could introduce.
The bank's exploration into crypto trading, which could include spot and derivatives, is driven by increasing client demand and a clearer regulatory landscape. JPMorgan's prior engagement with crypto includes a partnership with Coinbase, enabling clients to link bank accounts to crypto wallets.
While JPMorgan's CEO has voiced skepticism about crypto, the bank has actively participated in tokenization and facilitated crypto-backed loans. This potential new offering comes as other major U.S. banks, such as PNC Bank, begin rolling out Bitcoin trading services to their clients.
