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JPMorgan co-president and COO Daniel Pinto has said that the banking giant will support bitcoin trading if there is client demand for it.

“If over time an asset class develops that is going to be used by different asset managers and investors, we will have to be involved,” Pinto told CNBC in an interview published Friday. “The demand isn’t there yet, but I’m sure it will be at some point.”

Last month, JPMorgan reportedly held a meeting with thousands of traders and sales staff around the world, and the company was asked when it will get involved with bitcoin, and Pinto reportedly struck an optimistic tone. JPMorgan CEO Jamie Dimon has previously spoken skeptically of bitcoin, calling it a “fraud.”

According to Pinto, bitcoin is gaining wider acceptance. He cited BlackRock’s recent move of adding bitcoin futures as an eligible investment in two of its funds as proof of broader adoption.

Pinto further said that if bitcoin gets regulated, JPMorgan traders would involve vetted clients and reputable exchanges, including Coinbase.

Traditional financial institutions and corporates are warming up to bitcoin at a faster pace. Yesterday, America’s oldest bank, BNY Mellon, said it plans to custody bitcoin and other cryptocurrencies later this year. JPMorgan and Citi are also exploring crypto custody services, as The Block has previously reported.

Such positive developments have shot the bitcoin price up in recent weeks. It is currently trading at around $47,700, according to TradingView.

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Research & References of Related Reading|A&C Accounting And Tax Services
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From Admin and Read More here. A note for you if you pursue CPA licence, KEEP PRACTICE with the MANY WONDER HELPS I showed you. Make sure to check your works after solving simulations. If a Cashflow statement or your consolidation statement is balanced, you know you pass right after sitting for the exams. I hope my information are great and helpful. Implement them. They worked for me. Hey.... turn gray hair to black also guys. Do not forget HEALTH? Skill Improvement is definitely the number 1 crucial and major factor of obtaining true achievements in most duties as anyone watched in your society and additionally in Across the world. Hence fortuitous to explain together with everyone in the subsequent regarding whatever effective Talent Advancement is;. the way in which or what solutions we work to acquire dreams and in due course one should deliver the results with what individual loves to perform just about every single daytime designed for a maximum lifespan. Is it so superb if you are able to grow properly and locate being successful in what you believed, aimed for, self-displined and worked well really hard each and every day and unquestionably you develop into a CPA, Attorney, an owner of a sizeable manufacturer or possibly even a general practitioner who will be able to really play a role awesome support and valuations to other individuals, who many, any world and neighborhood certainly admired and respected. I can's think I can allow others to be very best professional level just who will play a role substantial treatments and aid values to society and communities presently. How completely happy are you if you turn into one such as so with your own personal name on the label? I get landed at SUCCESS and get over many the very hard sections which is passing the CPA exams to be CPA. Furthermore, we will also handle what are the risks, or other sorts of challenges that might be on a person's means and just how I have in person experienced them and might exhibit you tips on how to prevail over them.

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