City / Business / Markets / Blockchain / Blockchain Business Applications / Banks / Big banks / banks and cryptocurrency / JPMorgan blockchain / Citigroup / BofA research / Bitcoin

JPMorgan and Citi are using blockchain technology, and other banks are considering allowing clients to hold crypto in bank accounts, Bank of America research finds

Posted On: Feb 27, 2021   |   Posted By: Business Insider

Reuters
Bank of America research published Tuesday shows banks like JPMorgan and Citi use blockchain technology. Other smaller banks said they are open to allowing clients to hold cryptocurrencies in the future. The research sheds on light on where traditional financial institutions stand on blockchain amid bitcoin's massive rally. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. A research report from Bank of America shows banking behemoths JPMorgan and Citi are using blockchain technology, while other banks are considering allowing commercial and institutional clients to hold cryptocurrencies in their accounts. BofA analysts led by Erika Najarian compiled responses from banks they cover regarding use of blockchain technology and willingness to facilitate crypto transactions. They found that 21% of banks they cover have incorporated blockchain technology into their businesses in some form. Blockchain is a digital ledger and the technology used to transact with cryptocurrencies like...

Continue reading ...

 






The last Posts from Business Insider



Students from Rep. Madison Cawthorn's college said he used 'fun drives' to...

Rep. Madison Cawthorne . Courtesy of the Committee on Arrangements for the 2020 Republican National Committee via Getty Images Former classmates of Rep. Madison Cawthorn told... Read more ...

FBI pinpoints a single suspect in the death of US Capitol Police Officer...

A U.S. Capitol Police officer stands at the door of the Capitol Rotunda near where the late U.S. Capitol Police officer Brian Sicknick will lie in honor Tuesday, Feb. 2, 2021... Read more ...

Biden to talk migration with Mexico's López Obrador, who spent weeks...

The US and Mexican flags are carried side by side during a march for peace near the US/Mexico border on March 11, 2018 in Tijuana, Mexico. Mario Tama/Getty Images President... Read more ...

Nissan Should Have Made The Ariya Years Ago

Nissan Should Have Made The Ariya Years Ago

The Ariya is one of Nissan's best designs in a while. It feels like a return to form for the carmaker but I can't help feel a sense of déjà vu as I take in its contours. Read more ...

'Oath Keeper' Jessica Watkins denounced the extremist group but will stay in...

Jessica Marie Watkins and Donovan Ray Crowl , both from Ohio, march down the east front steps of the U.S. Capitol with the Oath Keepers militia group among supporters of U.S... Read more ...

A day pass will get you poolside at 8 of the hottest hotels in L.A

L.A. is full of phenomenal pools, spectacular spas and supercool five-star hotels waiting for us to explore. Now there's a way to do that on a budget. Read more ...

If Airplane Parts Land On Your Lawn, Can You Keep Them? We Find Out

If Airplane Parts Land On Your Lawn, Can You Keep Them? We Find Out

Remember early this week when that Boeing 777's right-side engine failed , blowing off the entire engine housing and other parts, which rained down onto the Denver-area homes... Read more ...

Rural communities are pushing back against vaccine-scheduling bots they say...

Some communities are fighting back against vaccine scheduling bots that they say give the tech savvy out-of-towners the upper hand. Getty Vaccine-scheduling bots intended to... Read more ...

Homer Roberts: The First Black Dealership Owner

Homer Roberts: The First Black Dealership Owner

African Americans have been faced with obstacles to their success in this country since its inception, and the auto industry rarely offered a path to move beyond that struggle... Read more ...

How to Find Out the Tide Schedule at the Beach

There's finally been some good news concerning COVID-19: Cases are drastically going down and the vaccines are working, though of course there's still concern about different... Read more ...