A new group at the 2nd biggest financial institution in the US has just been formed to concentrate on digital currency exploration.
According to Bloomberg, Bank of America just lately developed a new group, accountable for exploration on cryptocurrencies.
The move marks the most recent good improvement from Wall Street in the cryptocurrency market place.
“Cryptocurrencies and digital assets are among the fastest growing emerging technology ecosystems. We have a leadership position, a mindset due to our strong industry research analytics background, leading payments platform, and blockchain expertise,” reads from inner notes.
Bank of America has been doing work on blockchain for many years. In 2018, the company filed a patent application for a blockchain to record IoT information nodes. This is just one particular of several patents of this giant.
From 2019, the financial institution commenced recruiting a amount of employees positions for the blockchain sector.
However, Bank of America is even now slower than some of its rivals. JPMorgan and Goldman Sachs have lengthy permitted the trading of cryptocurrencies via the procedure.
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