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JPMorgan Chase reviewing virtual asset trading service for institutional clients
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- JPMorgan Chase is reported to be reviewing the introduction of a virtual asset trading service for institutional investors.
- The discussion includes both spot trading and derivatives trading, and it said that whether the service is actually introduced will be decided by comprehensively considering customer demand, the regulatory environment, and risk assessments.
- It reported that major Wall Street financial firms are increasingly seeking to incorporate virtual assets into the mainstream financial system.
- The article was summarized using an artificial intelligence-based language model.
- Due to the nature of the technology, key content in the text may be excluded or different from the facts.
The large U.S. bank JPMorgan Chase is reviewing the introduction of a virtual asset (cryptocurrency) trading service for institutional investors.
On the 22nd (local time), according to Bloomberg, JPMorgan Chase is internally examining the possibility of offering virtual asset-related products and services, focusing on its markets division. The review reportedly includes both spot trading and derivatives trading. However, the discussion is in its early stages, and whether the service is actually introduced is expected to be decided after comprehensively considering customer demand, the regulatory environment, and risk assessments.
This review is interpreted as a response to increased interest from institutional clients following recent changes in the U.S. regulatory environment for virtual assets. Bloomberg reported that the U.S. administration's pro-virtual-asset stance and policy changes by regulators are easing conditions for banks to expand virtual asset-related businesses. The Office of the Comptroller of the Currency recently issued guidance that banks may perform intermediary roles in virtual assets.
JPMorgan Chase has been active in using blockchain technology. Recently it supported Galaxy Digital's short-term bond issuance, distribution, and settlement, and is also pursuing measures to allow institutional clients to use their holdings of Bitcoin and Ethereum as loan collateral.
Similar moves are continuing across the global banking sector. Standard Chartered has started spot trading services for Bitcoin and Ethereum for institutional clients through its UK branch, Intesa Sanpaolo purchased Bitcoin through its own digital asset trading organization. Goldman Sachs is already operating virtual asset derivatives trading, and BlackRock is managing large sums through a Bitcoin exchange-traded fund.
Bloomberg said, "This trend could be a sign that major Wall Street firms are gradually incorporating virtual assets into the mainstream financial system."
