Bitcoin Forum

Former head of J.P. Morgan's blockchain arm is no longer on Wall Street. But the former insider says major banks like her former employer could get into the cryptocurrency business imminently.

"I think it's coming sooner than people probably think," Amber Baldet, Former head of J.P. Morgan's blockchain arm told CNBC's "Power Lunch" Friday. "But even where the will is, the legal and regulatory framework is challenging."

I think it will be great if this happen so. Share your thought of possibility.

Banks and other stock whales will get a good chance to enter very soon when GoldMan Sachs will start to trade their new stablecoin. That procedure will be more transparent and legal for them than buying a huge amount of bitcoin. We just need to wait some more...

Some people were dumping when all this talk of regulation took place late last year. However, this is needed so banks will adopt cryptocurrency and governments start to embrace it. When people realise the benefits involved, there will be a huge bull run as everyone rushes in

It will be great if banks start using crptocueencies and i do believe that crypto industry will go to another level and be widely accepted by people. Could you please share the full news link to know more?

I think it will be very cool and the market will respond positively, but I do not think it will be soon, because the legislation does not allow it to do so yet.

It is very likely that many banks are already investing in crypto-currencies in small chunks. But they do it informally. Banks do not want to create this kind of hot news, because the price may rise. It is advantageous for them to make deals without unnecessary noise

This should be good news, and bitcoin prices will go up.
if I may know, when is the news published?
because the price of crypto is now red again.

Would not really be a surprise to see banks trading on cryptocurrencies and using the blockchain technology for their transactions because if they want to survive and be relevant for a long time to come then their best chance would be to find a way to integrate cryptocurrencies into their services.

If it really happens that is highly expected and anticipated then we will surely see huge volume coming into the market and the market will also grow exponentially as the banks and other financial institutions will bring loads of fresh money into the market. so good times are coming ahead.

This will be a great thing to happen, I can see the future of cryptocurrency shining bright if bank starting to trade cryptocurrency, I'll be glad and lucky to see this happening because it's a good one for cryptos world in general.

Fully agreed with you.
Here is the full news https://cnb.cx/2GuvEiz

I think new revolutions are gradually setting in, so i won't be surprised if i see banks trade crypto. It has  even started long time ago. We all know that ripple is bankers coin, although it is centralized.

It's already happening remember the current news about crypto trading desk by Goldman Sachs? the adoption has already started and this arm has see it coming so that's the point of that statement.
We've been waiting for a very positive response and reaction by the community and the market. When there are this type of news, it seems that there's no effect at all but let's see and hope for the best.

This will be a good opportunity, because J.P. Morgan's has a lot of money, very suitable to be a big investor. But I'm afraid it's just an issue, it does not come true

Will its a good statement that we heard from the former insider stated that major banks like her former employer could get into or transfer in cryptocurrency imminently,because banks will trade into digital currency investment,and this words would tickle in to my ears,that i've heard a  positive news coming from the big player in the blockchain,because maybe this is the time that those collaboration of banks and cryptocurrency will going on.

It looks like this is still a speculation and the time will tell us about that. Consider from a lot of news about the banks are banning crypto and it's a big no for me. But just curious what will be happening in the future consider NASDAQ is working on the cryptocurrency trading platform. More companies just come

I think you are probbly right. As much of a threat as Crypto is to banks, it will be less of a threat if they embrace it and evolve to be included. I think bankers are smart enough to realise this and it is only a matter of time.

For me I think banks will open it's gate into cryptocurrency for investment and trading purposes because it has huge potential due to volatility and people are already getting into it. The only thing they can do about it is to regulate to avoid using of any illegal activities with cryptocurrency. A lot people prefer cryptocurrency investments rather than those that has stable value assets like real estate, stocks and dother fiat related investments.

Banks consider crypto  threat to their existence, before they get to trade it , i think they will try stop ctrypto and will only trade if left with no other option

Better for the banking system to adopt blockchain technology and creating their own coin can be good preparation for a brighter future. Also government will regulate cryptocurrency if the banking system are showing interest about cryptocurrency. In the future, many banks will use this and those who first to adopt will go ahead from the others.

When it comes to that of the crypto currencies, you can expect anything to happen and that too at any moment. There are likely chances of this thing to happen but I think so that this will never happen until and unless the government declares the support of the crypto currencies as without the approval of the government, it will be very much difficult for the banks to make any such decision on their own.

The only problem that hampers the whole process is security. Today, from all fraudulent activities with crypto currency, about 50% of stolen funds disappear forever. In general, there will be reliable protection, then the banks will start its turnover.

It's been a while since the banks start to invest in blockchain technology. However the banks continue to declare negative says on the crypto trade. I don't believe them, they are preparing.

I wish it was true..but for now only such countries as Venezuela, Iran, Russia and others of the kind are implementing blockchain in their financial systems via central banks. Surprisingly, and at the same time not. I explain this to myself as an attempt of those countries to launder money and develop underground economy where common economic measures fail. But I wish people saw blockchain from another angle. Not as a means to mistreat people but to help. For example, Venezuela could use blockchain to provide transparent and honest elections, instead it chose to create that scam of El Petro. I wish that one day banks would really sell tokens not money but feels like first developed countries should take a lead and set an example

No not all of them. For some banks in some countries it will take longer for them to start being involved in cryptocurrency trading than it would be for others. For now there are some banks in some countries that are already using the blockchain technology but that is still a few number and even though I believe that all banks will eventually use them, I also know that it will take time.

I am sure that the most banks are already trading cryptocurrencies, but they are not talking about it because they don't want to create too much fomo. Many people would rush into the market as soon as they hear that local banks are buying!

A better future of cryptocurrencies  will happen when they combined together trader of coins and banks employees hoping at last will became friends.

I agree with you. Surely already many banks invest in crypto currency, but they do it all quietly.

I think it will be a great idea if banks trade cryptocurrency as it will move crypto community to a better place and it will become globally accepted because more people will show interest by investing in it as long as it has the government backing. This will also help to stabilize the price of some stable coin and help reduce the rate of scam in the system as they will need the endorsement of the government before they can be accepted.

Its really happening. Financial institutions like banks will possibly invest on this since it gives more profit. They have all the funds to do so and its a good opportunity for them to collaborate it with banking services. Banking is going digital and probably cryptocurrency is one of the possible ways to do so.

Banks and major players on the stock exchanges have long been ready to invest in Cryptocurrency. There are 2 factors that stop them.
1. There is no stability in the market. Fluctuations - 50% + 50% is a good earnings, but also huge risks. A less quiet market will attract major players.
2. There is no stable coin that would replace Fiat. Tether I don't take into mind at all since this property is holding a certain exchange. It's quite problematic to cash out large sums all the time if the market is not stable. There is no good alternative to keeping investment inside a cryptocurrency with a stable rate towards the dollar or the euro. It should be a popular coin, which is supported by all exchanges.

This is looking at how people think ...))) But actually completely agree with the idea that banks will pick up the crypto currency and keep it in their accounts ...

It would be very cool if it was so, but do you understand what the problem is, I think that if the banks start doing this, they are obviously fools, because the use of the crypto currency already says that there will not be banks as a whole.

I am expecting banks to start crypto currency exchange activities soon too. There are a few banks developing the exchange, one of them is Bank of Tokyo Mitsubishi UFJ in Japan.

As we can see now banks have already involved in the crypto world: close interaction with Ripple, blockchain transactions and so on.

I get very happy when I hear  about this from any where. Its a too good that bank will trade cryptocurrency soon. I think many banks are very interesting in cryptocurrency.

Banks are desperate to influence the choice of investors and to convince the banks that it is still reliable and profitable. But I think that over time, the crypt will move to a new level and can completely replace the banks.