Report: “Morgan Stanley” intends to enter the world of Bitcoin
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Answer Report: “Morgan Stanley” intends to enter the world of Bitcoin
A recent report indicated that one of the world’s largest financial institutions, “Morgan Stanley”, is planning to enter the world of bitcoin, by providing a financial product that allows its customers to trade bitcoin in an indirect way.
The “Bloomberg” report stated that “Morgan Stanley”, which is the sixth largest bank in the United States of America in terms of assets, is looking to create a physical product that allows traders to take advantage of the fluctuation in the price of Bitcoin.
The report added that US banks will deal with contracts that allow investors to benefit from the performance of Bitcoin and trade it virtually, and it will give customers the option to buy Bitcoin for a long or short period and benefit from the price return, and “Morgan Stanley” will collect the price difference for each transaction.Read:OKEx platform enters the world of (IEO) and reveals the first subscription on its platform
The report indicated that the CEO of “Morgan Stanley”, James Gorman, had previously stated at the time of this year that the company would not allow its customers to trade digital and cryptocurrencies directly from the bank. He added that they are technically ready to start indirect trading if the internal procedures are completed and there is a demand from investors and investment institutions.
Thus, the American giant will join a growing number of financial institutions that are working to take advantage of the technological revolution and create financial products related to the cryptocurrency industry.
Goldman Sachs and Citigroup are planning to offer bitcoin-related financial products to customers in the coming period. JPMorgan is also reportedly looking at ways to help its clients invest in digital and cryptocurrencies.Read:The currency of Ethereum (ETH): features and information about the second most important digital currency
It should be noted that the company Intercontinental Exchange, the largest operator of global exchanges, is looking to launch a bitcoin futures product, so that bitcoin contracts will be settled in real time,
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