Bank of America Establishes Crypto Research Team

Bank of America Establishes Crypto Research Team

One of the US’s largest and most important banking institutions- Bank of America- recently revealed a memo from which we gathered that the organization will be establishing a crypto research team.

Bank of America mentioned that it is completely aware of the current boom in crypto interest. It asserted that it finds itself in the perfect position to provide and offer analysis and research regarding the cryptocurrency industry and all of its components.

The Head of global research for Bank of America Candace Browning revealed in the memo that,

Bank of America is uniquely positioned to provide thought leadership due to our strong industry research analysis, market-leading global payments platform and our blockchain expertise.” once and for all demonstrating the confidence of the bank with its actions.

A report released by media giant Bloomberg detailed that Alkesh Shah, the previous Bank of America’s Global Technology Specialist team leader, will be heading the crypto derivatives research team. He will report, on his end, to the head of the bank’s global currency and commodity research team Michael Maras.

However, Bank of America is not the first US banking institution to provide its own research service for all things crypto. JPMorgan and Goldman Sachs have their own research teams. Meanwhile, earlier this year, Goldman Sachs even had time to restart its cryptocurrency desk.

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