JPMorgan is looking to scale up its blockchain and crypto exposure and is now developing plans to offer cryptocurrency trading services, according to a company executive.
Custodying crypto directly is currently off the table, however.
Speaking on CNBC’s Squawk Box Europe on Monday, JPMorgan’s global head of markets and digital assets, Scott Lucas, was asked if the banking giant would follow competitors such as Citibank into custodying crypto for its clients.
In response, Lucas explained that it’s not on the “horizon near-term” for the bank, but emphasized that it is looking to offer crypto trading services.
“I think Jamie [Dimon] was pretty clear on investor day that we’re going to be involved in the trading of that, but custody is not on the table at the moment,”…more
Source cointelegraph.com
Terms of use and third-party services. More here.