According to financial journalist Rebecca Harding, author of the book “Arms trade: a Great imbalance of politics and Economics”, the banking giants are getting ready to deep dive into the unknown for them CryptoStor.
In an interview with Forbes, Harding, who is also CEO, Coriolis Technologies, a technological company that serves major financial institutions in the traditional banking sector, said that most financial institutions are demonstrating a healthy curiosity and skepticism about digital currencies at the same time.
According to her, financial institutions have begun to realize the need to invest in blockchain and cryptoprotection, but wait until governing bodies accept the normative documents on this issue.
Three large U.S. investment Bank Goldman Sachs, Morgan Stanley and Citigroup have launched several products to service institutional investors. Morgan Stanley has developed the infrastructure for bitcoin derivatives and intends to launch a crypto-currency swaps total return after we see sufficient demand.
Harding also said that banks are working closely with startups in the financial technology field, studying the stock market and developing innovative solutions.
WHY IS IT IMPORTANT
- In July 2018 this year Korean news Agency Yonhap reported that the country’s commercial banks own bitcoin and ether in excess of $2 billion.
- Harding stressed that more and more banks are beginning to invest in digital currency. And if in the near future, financial institutions will not be able to offer tools for working with digital assets, their business model may become irrelevant.
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