In the U.S. it will be possible to buy cryptocurrencies directly from banks

06.05.2021 | auglovoi

New Digital Investment Group and Fidelity National Information Services have agreed to create an infrastructure that allows retail banks to give their customers direct access to cryptocurrencies. Currently, private investors in the United States can only buy digital assets from online exchanges and some small investment funds. If the project succeeds in launching, the availability of this new type of asset could attract a significant number of investors.

Negotiations are already underway with many large banks willing to provide their customers with the new service.

Presumably, one of the financial institutions is JPMorgan, the largest bank in the United States, which constantly talks about cryptocurrencies in a positive way. Smaller banks, which can make additional profits from trading and managing cryptocurrencies, may follow suit.

The increased focus by classic financial institutions on digital assets has triggered capital outflows to more liberal platforms, which are constantly expanding the list of assets available for investment, reducing banks’ operating margins.