Another Cryptocurrency Move Has Been Made by Bank of America!

Another cryptocurrency move has been made by Bank of America. The bank established a cryptocurrency research unit.

Interest in cryptocurrencies has been growing exponentially in the US lately. After giant banks such as JP Morgan and Goldman Sachs started to provide futures cryptocurrency services, another giant, Bank of America, also reported that it established a cryptocurrency research unit. It was reported that the head of the unit will be Alkesh Shah, who is also the head of Data and Innovation Strategy of the bank. Shah will be accountable to and reporting to Michael Maras, global head of fixed income, currencies and commodities research. Answering Bloomberg's questions on the matter, a bank spokesperson confirmed the development but did not provide detailed information. Commenting on the bank's internal memo, Candace Browning, BofA's global research manager, said: “Cryptocurrencies and digital assets are cutting-edge ecosystems that are growing very rapidly. With our strong industry analytics team, our market-leading global payments platform, and our expertise in blockchain, we are well positioned.” Recently, the interest of US banks in cryptocurrencies has not been overlooked. Investment banks such as JP Morgan and Goldman Sachs have also announced that they have started offering crypto-futures services to their clients.