Bank of America has built a dedicated cryptocurrency research team, according to a recent Bloomberg report.
Candace Browning, head of BofA Global Research, described crypto as one of the fastest-growing technologies:
We are uniquely positioned to provide thought leadership due to our strong industry research analysis, market-leading global payments platform, and our blockchain expertise.
The research team will be spearheaded by Alkesh Shah, a founding member of the bank’s Data & Innovation Strategy Group.
card
As reported by U.Today, the second-largest U.S. bank also began settling stock trades on a blockchain in May.
That said, BofA still keeps its crypto investing ban in place, according to CEO Brian Moynihan’s recent congressional testimony:
Currently, we do not lend against cryptocurrencies and do not bank companies whose primary business is cryptocurrency or the facilitation of cryptocurrency trading and investment.
Advertisement
Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Arman Shirinyan
Dan Burgin
Vladislav Sopov