The second largest bank in the United States, Bank of America (BoA), reportedly allows its clients to trade Bitcoin futures.
Indeed, this was revealed by two sources with knowledge of the case, on condition of anonymity, which assured that the bank of Wall street it is changing the conception you have about Bitcoin. And it begins to open more commercial mechanisms to provide greater exposure to customers to digital currency, within what is established by regulatory limits.
For its part, BoA, has always been belligerent with cryptocurrencies. But, it just allowed Bitcoin futures trading for some clients. Mainly, many investors are setting up their Bitcoin futures trading account.
Bank of America customers will be able to trade Bitcoin futures
Specifically, one of the most important banks in the United States, Bank of America (BoA), took a big step into the world of cryptocurrencies, after approving the trading of Bitcoin (BTC) futures on its platform.
To recall, the bank recently created a team dedicated exclusively to researching cryptocurrencies.
«We are uniquely positioned to provide thought leadership due to our strong industry research analysis, the market leading global payments platform, and our Blockchain expertise.».
In short, through a Bloomberg statement, Candace Browning, Bank of America’s head of global research, expressed:
«Cryptocurrencies are one of the other rapidly growing emerging technology ecosystems».
For this purpose, Bank of America will allow some of its clients to access Bitcoin trading. Also, some of the clients may already be taking advantage of the new financial instrument. While others are preparing to invest.
Other banks join
Like BoA, other financial institutions have started down the road to Bitcoin. Such is the case of Morgan Stanley, which became the first traditional bank in the United States to offer the purchase of Bitcoin to its clients, through three investment funds.
Additionally, we have Goldman Sachs, which entered the Bitcoin futures trading game by partnering with cryptocurrency investment and financial services company Galaxy Digital. And thus, provide liquidity to its clients.
Futures will be acquired in CME
Also, the spokesmen reported that Bank of America will acquire futures on the Chicago Mercantile Exchange (CME) stock exchange. One of the world’s leading derivatives exchanges and institutional provider of Bitcoin futures contracts.
As a curious fact, it is worth mentioning that until now, the information on the adoption of Bitcoin by the bank has not been confirmed by the authorities. That is, Bank of America has not confirmed or denied the version.
What do you think of Bank of America allowing Bitcoin futures trading? Let us know in the comment box.
I retire with this phrase from Henry Ford: «It is good that people do not know the banking and monetary system. If there wouldn’t be a revolution tomorrow morning».