Wall Street will help investors work with cryptocompany

The two largest banks Wall Street began to develop products related to custodial services and the help of crypto investors in trading activities.

Goldman Sach and Jpmorgan hire new employees specializing in blockchain and virtual currencies to help customers manage cryptoactivities. Earlier, funds were proposed tools for working with Bitcoin derivatives. Now banks explore the new sphere associated with saving and taking into account virtual assets.

According to analysts, if the giants do everything right, they will be able to «unlock» billions of dollars investment from funds working only with qualified custodians and legitimate storage methods. It will also open them access to new types of fees.

Many investors are afraid of the crypton not so because of volatility, as due to safety problems. The owner cannot materialize coins to protect them from hackers, therefore the demand for cold storage facilities located in bunkers and protected from electromagnetic pulses are growing.

However, Goldman and Jpmorgan are not the only ones who work out this direction. The first to market can be released by the Japanese Broker Nomura, which has long been planning to introduce such services. There is also a Swiss Stock Exchange in the Six Group (co-owner of 130 banks), which last month announced plans to open a platform for cryptocurrency trading, as well as their placement and storage. Coincase Customy by the end of the year plans to attract virtual assets from large investors by $ 5 billion.

So far, institutional investors try to avoid cryptocurrency, but one day it will change. Therefore, Wall Street is already preparing to make money on it.