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HomeBitcoinBank of America Establishes Cryptocurrency Research Team – News Bitcoin News

Bank of America Establishes Cryptocurrency Research Team – News Bitcoin News

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Bank of America has become the latest major bank to make a foray into the cryptocurrency sector. According to an internal memo, the bank has created a team dedicated to researching cryptocurrencies. Bank of America believes that it is “uniquely positioned to provide thought leadership” on cryptocurrencies and the technology behind them.

Bank of America (BOFA) has created a new team dedicated to researching cryptocurrencies, according to an internal memo seen by Bloomberg. A spokeswoman for the bank confirmed the contents of the memo.
The new crypto team will be led by Alkesh Shah, a founding member of the Data & Innovation Strategy Group at Bank of America. It will report to Michael Maras, who leads the bank’s global fixed income, currencies, and commodities research. Besides cryptocurrencies, the team will also cover technologies tied to digital currencies.
Candace Browning, head of Bank of America’s global research, said in the memo:

Cryptocurrencies and digital assets constitute one of the fastest growing emerging technology ecosystems. We are uniquely positioned to provide thought leadership due to our strong industry research analysis, market-leading global payments platform and our blockchain expertise.

What do you think about Bank of America launching a dedicated crypto research team? Let us know in the comments section below.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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