US Banks Explore Supporting Bitcoin And Crypto

The other day, Bitcoin hit $14k for the first time since January 2018, leading to massive enthusiasm in the crypto space.

More optimistic predictions are coming in these days, and whales seem to be growing in numbers as well.

US banks are analyzing whether to hold Bitcoin and crypto

Acting Comptroller of the Currency Brian Brooks said that the US banking institutions are investigating ways to support crypto assets for interested clientele.

The online publication the Daily Hodl notes that during an interview with Laura Shin, host of the Unchained podcast, Brooks shared his thoughts on the ways in which US banks have begun to explore crypto adoption in the following the Office of the Comptroller of the Currency’s (OCC) decision to grant banks the right to provide custody for cryptos.

You may recall that the letter was released back in July and it clarified the fact that banking institutions should be able to hold clients’ most valuable assets which include cryptos.

Shin talked about the OCC’s determination and asked Brooks if he’s seen a change in attitude towards the digital assets from large financial institutions since the letter’s publication.

“Well what I have heard, in the grapevine and I’ll bet a lot of your listeners have heard the same thing, is that since our letter came out a number of big crypto custodians Anchorage, Coinbase, and a number of others, have been contacted by banks about whether they’d be willing to be like the third-party custody providers for national banks whose customers want to invest in Bitcoin.”

We recommend that you head over to the Daily Hodl’s original article in order to check out more of what Brooks had to say.

At the moment of writing this article, BTC is trading in the green, and the king coin is priced at $13,744.23. 

Previous ArticleNext Article
An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.
>