JPMorgan, America’s largest bank with a staggering $2.6 million in assets, has inked a deal with leading Bitcoin trading venues, Coinbase and Gemini exchange.JPMorgan will now offer the two exchanges banking services including deposit, withdrawal and transfers with Automated Clearing House (ACH) infrastructure, according to a Forbes report on May 12, 2020. The news came just less than 24 hours after Bitcoin underwent a massively hyped “halving” upgrade. JP Morgan Chase will offer its banking services to two U.S. bitcoin exchanges, Coinbase and Gemini. The Wall Street banking powerhouse approved the exchanges’ application in April 2020. According to a recent report from the financial services giant, written by the “Global Research” team at JP Morgan, there is a “genuine demand for non-linear institutional trading products in crypto markets.” JP Morgan indicated that this “genuine demand” for Bitcoin via these trading products is likely from institutions. JPMorgan Chase & Co. agreed to take on two Bitcoin exchanges as banking clients in a move that shows the company getting more comfortable with an industry its top leader once spurned. With hard-to-ignore investors like Jones jumping on the Bitcoin bandwagon, J.P. Morgan is no doubt reexamining the idea that Bitcoin “is a fraud,”a favored mantra of its CEO, Jamie Dimon.
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Tel Aviv, Israel- I am always thinking about the glorious future of Bitcoin.The JP Morgan story brings me back to the past. A full-time crypto trader? Lightning network and other subjects to talk ... DISCLAIMER: Trading Bitcoin is VERY risky, and 80% of traders don't make money. Make sure that you understand these risks if you are a beginner. I only recommend crypto trading to already ... Correction: JP Morgan bought 19,102 shares of Bitcoin XBT. 152 shares is about equal to one Bitcoin. They bought about 126 Bitcoin. Follow Me on Steemit: htt... J.P. Morgan launched its own answer to bitcoin last year, JPM Coin. Unlike bitcoin, JPM Coin is pegged to the dollar and aimed at speeding up and reducing the costs of global payments. Close. This video is unavailable.