A group of financial institutions are taking a closer look at bitcoin (EXANTE: Bitcoin) as the global interest in the cryptocurrencies rises, The Telegraph reports, citing Tom Robinson, the Co-Founder of Elliptic. Robinson said he had seen a surge in interest from several banks who were interested in the compliance of taking on cryptocurrencies.
Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.
While it remains unknown on what type of crypto-related services the US could offer, Robinson noted there was a "massive uptick in inquiries from large banks." Robinson's comments come after it became known that Germany's largest bank Deutsche Bank is working on its own cryptocurrency custodian. While the custodian is in a proof of concept mode, the bank plans to offer buy/sell feature to its customers in the future.
As iHodl reported earlier in January, the US Office of the Comptroller of the Currency (OCC) shared a statement according to which banks are allowed to run independent nodes and distributed networks as well as issue their own stablecoins. According to the document, the US-based banks"may use new technologies, including INVNs and related stablecoins, to perform bank-permissible functions, such as payment activities."
Access more than 50 of the world's financial markets directly from your EXANTE account – including NASDAQ, London Stock Exchange and Tokyo Stock Exchange.