Crypto Biz: Wall Street Moves Onchain as Banks Embrace Digital Assets
Major Wall Street banks are increasingly integrating digital assets, with JPM Coin expanding, Morgan Stanley proposing crypto ETFs, and Barclays investing in stablecoin infrastructure.Summary
The traditional banking sector is shifting its stance on cryptocurrency from containment to deliberate integration, as evidenced by recent moves by major institutions. JPMorgan is extending its US dollar deposit token, JPM Coin (JPMD), natively onto the privacy-focused Canton Network, signaling progress toward production-ready, interoperable digital cash. Concurrently, Morgan Stanley has filed with the SEC to launch investment vehicles offering exposure to Bitcoin (BTC) and Solana (SOL) through trusts, which could bring crypto investments to millions of wealth management clients. Furthermore, Barclays has made its first investment in stablecoin infrastructure by backing Ubyx, a clearing platform connecting regulated issuers and financial institutions. This trend is further solidified by Bank of America allowing its wealth advisers to recommend spot Bitcoin ETFs to clients, marking a significant step in the normalization and adoption of digital assets within mainstream finance.
(Source：Cointelegraph)