In recent years, there has been a significant surge in interest surrounding Bitcoin (BTC) and other cryptocurrencies within the United States. This growing fascination is not only being acknowledged by major institutional players but also by banks that are increasingly exploring cryptocurrency options.
A recent study indicates that out of the 25 largest banks in the US, 14 have begun to create Bitcoin-related products for their clientele.
According to River, a financial services firm specializing in Bitcoin, these 14 banks are actively working on various offerings related to Bitcoin.
The data from River illustrates a shift from initial skepticism towards Bitcoin among many prominent American banks to now viewing it as an essential strategic focus.
The perspective of the banking industry regarding Bitcoin has changed dramatically. Just a few years back, top banking officials often referred to it as merely speculative or associated with illegal activities and considered it just another trend likely to fade away.
However, it’s evident today that some of the largest financial institutions in America are making strides in developing products linked to Bitcoin.
River highlights that key offerings include custody services for Bitcoin, trading and brokerage solutions, along with integration into current asset management systems.
The following is a list of banks either offering or working on cryptocurrency-related products:
“JPMorgan (providing trading services for Bitcoin), Citibank (offering custody and trading solutions tailored for affluent clients), Goldman Sachs (developing services specifically for high-net-worth individuals), PNC Group (introducing custody and trading options for Bitcoins)”
*This content does not constitute investment advice.