Bank of America has formed a blockchain and cryptocurrency study group - Bits Media

Head of International Studies, Bank of America (Good) Candice Browning (Candace Browning) reported, that the bank has formed a task force to study blockchain and cryptocurrencies.

Browning named digital assets one of the fastest growing and emerging industries. According to her, Boa has extensive experience with blockchain and has unique opportunities for further research on this technology.

Creating a new department, which will engage in exclusively studying cryptocurrencies, will help the bank become an “intellectual leader” among other financial organizations. The target group will be headed by Alkesh Shah (Alkery Shah) From the Department of Strategic Development and Innovation of BOA.

Recall, what in 2019 year Boa has tested a distributed registry technology (DLT) Together with Ripple, And in May of this year, he joined the calculated network based on the Paxos blockchain -based securities. but, As for cryptocurrencies, Some BOA analysts criticized Bitcoin for its volatility.

Earlier, General Director of the Bank Brian Moginikhan (Brian Moynihan) stated, that Boa will not serve the company, the main activity of which is associated with digital assets.

Now the bank gradually begins to change its attitude to the cryptocurrency industry. maybe, The reason for this was the active "immersion" of other banks in this industry. For example, American JPMorgan Bank is preparing to launch an investment fund for bitcoin, And Goldman Sachs plans to launch trade in futures and options for Ethereum.