Global Banking Institutions Expressing More Interest In Bitcoin.
2021-02-17 | Eddy Morgan
Global banking institutions
are expressing more interest in Bitcoin [
BTC]
as the cryptocurrency consistently breaks new all-time highs,
consistent with a new official report.
The co-founder of leading British cryptocurrency firm Elliptic, Tom Robinson,
said to The Telegraph Wednesday that his firm saw
a huge surge in Bitcoin-related inquiries from global banks.
The executive revealed a wave of Bitcoin-associated demand from U.S-based banking institutions over the past 2 months.
Consistent with Robinson, several financial institutions within the United States “are seriously considering launching some
sort of cryptocurrency service.” British banks were
the foremost reserved in terms of the demand’s uptick, the exec reportedly added.
Founded earlier in 2013, Elliptic offers cryptocurrency intelligence services to high-profile users like government agencies & cryptocurrency exchanges.
The corporate works with state authorities embody the United States Federal Bureau of Investigation.
Megan Prendergast Millard,
director at
the danger and compliance firm Guidepost Solutions, believes that the growing Bitcoin trend among traditional financial institutions is natural amid surging adoption. Prendergast Millard reportedly revealed that
it had been logical for banks
to start opening up to virtual assets in a similar
way to cryptocurrency exchanges
so as to stay millennials and Generation Z on board.
“Financial institutions are looking to keep their users and that they got to believe who those people are,” Prendergast Millard added.
The new report comes shortly after Bank
of New York Mellon, the oldest bank
within the United States,
revealed plans
to carry and trade Bitcoin and other virtual currencies as an asset manager on behalf of its clients. Roman Regelman, senior executive
vice-chairman and head of the digital at BNY Mellon, believes that
the full incorporation of virtual assets into
the normal banking infrastructure will take another 3
to 5 years.
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