Blockchain a blessing and a curse for global banksThe much-hyped blockchain may hit global investment bank earnings before any other sector, but the costs it can cut out of the whole financial market can also boost their squeezed margins, says Morgan Stanley.
New research from the bank estimates blockchain can cut between US$15 billion ($19.5 billion) and US$20 billion in costs from global money markets.
That includes a slice of the profits global investment banks, including Morgan Stanley, earn from so-called post-trade settlement – which involves holding
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