JPMorgan, Goldman and Citibank All Looking At Crypto

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Last Updated on 23 March 2021 by CryptoTips.eu

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Although ECB President Christine Lagarde may be wary of Bitcoin and US Treasury Secretary Janet Yellen could also look upon it unfavorably, the three biggest American banks are going full steam ahead as they are seeing a growing interest from their customers.

According to a report on financial website Bloomberg, none other than Goldman Sachs has issued a request for information (RFI) to explore digital asset custody, or in other words, the possibility to start some form of a crypto bank.

Earlier Citi Bank and JPMorgan also showed interest in Bitcoin.

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Digital Custody

A person working at Goldman Sachs declared anonymously that:

Like JPMorgan, we have issued an RFI looking at digital custody. We are broadly exploring digital custody and deciding what the next step is.

Asked if they would like to become a crypto broker, the source claimed:

Anchorage, BitGo and Coinbase have quite grand plans in crypto prime brokerage and we would not be looking to duplicate those.

Huge consequences

Of course, any entry by the major US banks into the cryptosphere would be a tectonic shift.

If this is the case, the consequences could be huge for the crypto world. It would be one thing for regulators to ban a crypto coin because they deem it untrustworthy, but as soon as old money (aka wealthy families’ inheritance money) is invested in it via Goldman Sachs, they won’t take that lying down easily.

alexeynovikov / Depositphotos.com