Bank of America creates cryptocurrency research team – News Bitcoin News

Bank of America is the newest major bank to make a foray into the cryptocurrency sector. According to an internal memo, the bank has formed a team dedicated to research into cryptocurrencies. Bank of America believes it is “uniquely positioned to be thought leaders” on cryptocurrencies and the technology behind them.

  • According to an internal memo from Bloomberg, Bank of America (BOFA) has created a new team dedicated to research into cryptocurrencies. A spokeswoman for the bank confirmed the contents of the memo.
  • The new crypto team will be led by Alkesh Shah, a founding member of Bank of America’s Data & Innovation Strategy Group. It will report to Michael Maras, who leads the bank’s global research on bonds, currencies and commodities. In addition to cryptocurrencies, the team will also deal with technologies that are tied to digital currencies.
  • Candace Browning, director of global research at Bank of America, said in the memo:

Cryptocurrencies and digital assets form one of the fastest growing emerging technology ecosystems. With our strong industry research analysis, market-leading global payments platform and blockchain expertise, we are uniquely positioned to be thought leaders.

What do you think of Bank of America creating a dedicated crypto research team? Let us know in the comment section below.

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