Bank of America jumped into the Bitcoin trend

Syed AhadWeb Editor

16th Jul, 2021. 10:53 pm
Bank of America

Bitcoin futures trading is now available for a limited set of Bank of America clients, according to sources.

According to the reports, the financial institution is yet to make this service available to all of its customers.

Jerome Powell, the chairman of the Federal Reserve, spoke out about the importance of cryptocurrency and stablecoins in the US economy.

Investment banks intend to allow customers to invest in bitcoin products. After a three-year break, Goldman Sachs has confirmed the return of its crypto trading department.

The investment banking powerhouse had already offered cryptocurrency trading in partnership with the CME Group, and Bank of America is set to do so again for its clients.

Bitcoin trading began in 2017 at the CME Group. Since then, the platform has seen an improvement in investment and involvement.

Other banks and investment banks that sell crypto products to clients across the US are likely to follow Bank of America’s lead.

It’s interesting to note that in 2018, the American multinational investment bank banned its clients from trading in crypto-related goods, however, it has changed its stance since then.

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