Major US banks are shifting their stance on Bitcoin, actively developing products and services based on cryptocurrency.
Banks Move Into Bitcoin
According to a recent chart by River, many leading banks have begun to develop Bitcoin-related products. 13 out of the top 25 banks in the US are creating Bitcoin services for their customers, including JPMorgan, PNC, Charles Schwab, and State Street.
From Observers to Active Players
Since early 2024, American banks have begun to actively engage in the cryptocurrency space. Morgan Stanley is considering recommending Bitcoin ETFs, and Charles Schwab plans to add trading for Bitcoin and Ethereum. PNC is partnering with Coinbase to allow clients to trade cryptocurrencies through bank accounts.
Michael Saylor’s Vision for Bitcoin’s Future
Michael Saylor, CEO of Strategy, outlined four key points about Bitcoin’s future in a recent interview: banks will begin lending against BTC, the US government will hold Bitcoin, big tech companies will embrace BTC, and it will be easily accessible on devices like the iPhone.
The development of Bitcoin-related services by major banks opens new horizons for the crypto industry in the US and could lead to significant changes in the country's finance.
