Wall Street Institutions Are in Crypto Race? Bank of America/Merrill Lynch Joined The Race!
Bitcoin's mad money race is now formal with Wall Street’s biggest financial institutions. Bank of America/Merrill Lynch is in process of making bitcoin marketing products like it was built by Goldman Sachs and Morgan Stanley.
ICO Journal published this development first. Though the updates are very limited about the product being made but there are no updates too for Goldman Sachs and Morgan Stanley product but this is very obvious that these big financial institutions are making products that can be used by traders on various platforms to make money. Experts are looking this news as a positive development in crypto world as more and more big financial institutions will join the crypto market, it will be the better place to trade and more will it gain the confidence of masses.
Originally, Bank of America/Merrill Lynch is making a bitcoin tool connected to a non-deliverable forward, or NDF.
Morgan Stanley and Citigroup Have Also Joined the Race
It was also the surprise that Citigroup has also joined the race in making same similar product. I guess it is superb development for all crypto enthusiasts as one more financial institution is there to make the crypto base robust!
Sources on internet platforms suggested that Citigroup is trying to beat Goldman Sachs by launching the first big bitcoin trading product to remain ahead of all other financial powers.
Morgan Stanley immediately comes into action after Citigroup news and plans to offer business in complex derivatives tied to bitcoin.
Morgan Stanley decided to make legal agreement that can provide some relief and assurance to investors about bitcoin market. This will help investors to do hassle free trading.
According to the sources Morgan Stanley is well equipped to offer bitcoin swap trading.”
Finally, I would say that 2018 could be the decisive year for the bitcoin journey to become the globalized currency and we are inching towards the goal day by day with most of the major Wall Street Institutions are coming in to the market and helping our dream to come true, but very slowly.