Bank of America debuts a dedicated crypto research group. The research will focus on various crypto assets and technologies associated with them.
Bank of America has launched a dedicated cryptocurrency research group. The new crypto research group will be led by Alkesh Shah and will also focus on technologies related to the digital asset market.
According to a recent Bloomberg report, Bank of America has created a dedicated cryptocurrency research group.
Candace Browning, head of BofA Global Research, described crypto as one of the fastest growing technologies:
“We are uniquely positioned to provide thought leadership due to our strong industry research analysis, market-leading global payments platform, and our blockchain expertise.”
The research team will be led by Alkesh Shah, founding member of the Bank’s Data and Innovation Strategy Group.
As previously reported, the second largest US bank also began trading shares on the blockchain in May.
However, BofA still maintains its ban on crypto-investing, according to recent testimony from CEO Brian Moynihan in Congress:
“Currently, we do not lend against cryptocurrencies and do not bank companies whose primary business is cryptocurrency or the facilitation of cryptocurrency trading and investment.”