Some of the biggest banks in the USA, taking advantage of the regulatory facilities under President Donald Trump to expand digital asset services Crypto para stepping into the sector.
While full -scale crypto trade continues to be a challenge due to regulatory barriers, digital assets storing services for corporate investors are the primary focus.
According to The Information’s crypto reporter Yueqi Yang, banks such as State Street, Bny Mellon and Citigroup are actively working to establish or expand crypto storage operations. State Street, an important player in the field of traditional asset storage, is preparing to start digital asset storage services next year. Currently, Bny Mellon, which offers limited storage service for Bitcoin and Ethereum, wants to expand its offer to contain more tokens. In the meantime, Citigroup is investigating ways to enter this field by developing its own storage services or establishing partnerships with external companies.
Despite this increasing interest, many banks are still faced with important regulatory barriers. Institutions that wish to provide crypto services need to obtain approval from the FED and New York Financial Services Department. In addition, regulatory capital requirements add another layer of complexity that slows their entry into crypto trade.
At the same time, large crypto companies such as Coinbase discuss with banks to provide storing and trading services and signals the increasing cooperation between traditional finance and the digital asset industry.
*It is not an investment advice.
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Source: https://www.bitcoinsistemi.com/wall-street-devlerinden-kripto-para-sinyali-geldigine-dair-yeni-bilgiler-geliyor-iste-detaylar/
