Financial institution of America has grow to be the newest main financial institution to make a foray into the cryptocurrency sector. In keeping with an inside memo, the financial institution has created a group devoted to researching cryptocurrencies. Financial institution of America believes that it’s “uniquely positioned to supply thought management” on cryptocurrencies and the expertise behind them.
- Financial institution of America (BOFA) has created a brand new group devoted to researching cryptocurrencies, based on an inside memo seen by Bloomberg. A spokeswoman for the financial institution confirmed the contents of the memo.
- The brand new crypto group will probably be led by Alkesh Shah, a founding member of the Knowledge & Innovation Technique Group at Financial institution of America. It should report back to Michael Maras, who leads the financial institution’s world fastened earnings, currencies, and commodities analysis. Apart from cryptocurrencies, the group will even cowl applied sciences tied to digital currencies.
- Candace Browning, head of Financial institution of America’s world analysis, mentioned within the memo:
Cryptocurrencies and digital belongings represent one of many quickest rising rising expertise ecosystems. We’re uniquely positioned to supply thought management as a consequence of our sturdy business analysis evaluation, market-leading world funds platform and our blockchain experience.
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