Morgan Stanley Banking Holding will provide its customers with an opportunity to trade swaps for the total revenue from the dynamics of the bitcoin exchange rate, Bloomberg reports today citing the source familiar with the situation.
The possible entry of large companies and other financial institutions into the bitcoin trade has been for a long time one of the hottest topics on the cryptocurrency market. Recently, there have been reports that Goldman Sachs has changed their mind about launching a crypto exchange trading desk. The company's senior CFO called these reports "fake".
Representatives of Morgan Stanley have not yet confirmed or denied the report from Bloomberg.
WHY IS IT IMPORTANT?
- Such a step has been made six months after information that Morgan Stanley will follow the example of Goldman Sachs and begin to deal with clearing bitcoin futures.
- Morgan Stanley cautiously approaches short and medium-term prospects of bitcoin and other cryptocurrencies. In particular, Mike Wilson, an analyst at the company, expressed his fears about the possible continuation of the bearish trend in 2019.