Banks to start trading crypto sooner

[JessicaHart8]

Most recently, Russia's largest banks are piloting Bitcoin and Crypto.

Sberbank and Alfa-Bank will provide their clients with shares in a special fund that will trade six of the most popular electronic currencies on major exchanges, including Kraken and Bitstamp.

Sberbank, the main state bank responsible for handling government employees, and Alfa Bank, the largest private bank in the country, plan to participate in electronic money transactions with the assistance of the fund. Investment AddCapital, National Depository Center and IB Group.

The portfolio will consist of the six most popular electronic currencies, including Bitcoin, Bitcoin Cash, Ethereum, and Litecoin. The combination of the coin will be modified four times a year, and the ratio of that coin will be balanced by a trading algorithm.

[befriendmywater]

Most recently, Russia's largest banks are piloting Bitcoin and Crypto.

Sberbank and Alfa-Bank will provide their clients with shares in a special fund that will trade six of the most popular electronic currencies on major exchanges, including Kraken and Bitstamp.

Sberbank, the main state bank responsible for handling government employees, and Alfa Bank, the largest private bank in the country, plan to participate in electronic money transactions with the assistance of the fund. Investment AddCapital, National Depository Center and IB Group.

The portfolio will consist of the six most popular electronic currencies, including Bitcoin, Bitcoin Cash, Ethereum, and Litecoin. The combination of the coin will be modified four times a year, and the ratio of that coin will be balanced by a trading algorithm.

That's a great sign for the cryptocurrency community. I increasingly believe that the future of cryptocurrency is bright. Undoubtedly, banks around the world are leveraging blockchain technology to enrich themselves and their partners. This will spread more and cryptocurrency will become more common worldwide.

[GreatArkansas]

I hope so, because the main enemy of cryptocurrencies are the banks. But I do believe that it will become stable soon, we cannot force people to use cryptocurrency and we cannot force them to use banks, but in overall for me, using cryptocurrencies is really better and let's hope that Banks will start to trade cryptocurrencies.

[vonnyaries]

i dont think that bank will use cryptocurrecncies in theirs system, as i know that bank is want to use the blockchain system, because they think that blockcahin is the newest and perfect system for right now, right now bank in my country is do some research about blockchain and maybe they will use blockchain in the future

[pushups44]

I wouldn't be shocked if banks were already secretly trading and perhaps even accumulating cryptocurrencies. I have a hard time believing that with all of the money that has been made in cryptocurrencies, banks have stubbornly ignored the industry. I think the market caps have grown enough to get them involved.

[Tduty]

I don't believe anyone who is a very big person or not. Reddit co-founder made a statement that Ethereum will hit 15K USD in this year, Someone very big person claimed bitcoin will hit 40K USD, Now Sir Jp saying Banks will start trading sooner!

It's not possible in this year or the next year. They should stop making fake hype. Though everytime is the right time to invest in bitcoin when it is only 8K USD now. But those news can't attract me anymore.

[yndye]

i dont think that bank will use cryptocurrecncies in theirs system, as i know that bank is want to use the blockchain system, because they think that blockcahin is the newest and perfect system for right now, right now bank in my country is do some research about blockchain and maybe they will use blockchain in the future

It's not about using cryptocurrencies themselves but trading it. I think some banks are already trading cryptocurrencies because as what we saw last year, J.P. Morgan talk negatively about bitcoin which has created a FUD and makes the price go down only to find out later on that they have bought when it is cheaper so it is their strategy. Banks may not accept cryptocurrencies but they are already trading it because they have so much funds and they don't want to just let this opportunity pass without taking advantage of it.

[Cryptotissue]

Well, banks trading in cryptos will be a great news to the crypto world.  This means that, some banks believe cryptocurrency is the revolution to the world financial system.

[DenSamui]

The attitude of banks to the crypto currency will depend on the direct, from how most states will accept the crypto currency and fix it.

[nguyenlamqt116]

This could make a complicated system for them for both crypto and centralized currency

[Chasoid]

If and when banks start working with crypto, this moment will become the starting point in the flight of the prices to the moon.

[traderethereum]

somehow, I am not sure about this. and if banks want to start trading, then the government will get involved in the market, we can see that there will be many manipulations of the price and not just the whales that can do manipulate the price but the governments will also try to do this. the governments have an unlimited source to manipulate the price and maybe in that time, there will be a war between the governments, in this case, represented by the bank and with the whales. maybe it will interesting to know more about this.

[MeBi_US]

I think this can not be avoided, everything went to this in 2016 when they began to learn about the crypto currency.

[Ahsan Aly]

This is very beneficial for crypto investors and their users. This is a good step and every crypto holder or trader facilitate through this procedure.

[Gotumoot]

I hope so, because the main enemy of cryptocurrencies are the banks. But I do believe that it will become stable soon, we cannot force people to use cryptocurrency and we cannot force them to use banks, but in overall for me, using cryptocurrencies is really better and let's hope that Banks will start to trade cryptocurrencies.

Completely nonsense! This is impossible to happen. Banks will never do that, because banks are against to bitcoin, because bitcoin is a great threat to fiat currency. Banks and Government are linked to each other, and as what we know, government really hates bitcoin, because they cant control or manipulate it, and also they cant get something on it, not like fiat that they can put tax.

[burakdat]

Yeah there are so many reports about banks start to adapt cryptocurrency and i still figure out if here in our local would banks offer cryptocurrency loan or any that could let us earn on it. As i have checked lately banks are still waiting for a go signal for them and they are still having some issue on technical aspects. So here in our local bank would have some delays on the implementation. For now they will accept fiat and they will forward it to the local exchange where you can exchange your fiat to crypto.

[muneeb.zain]

As it's very hard to cout anything about this because there are many different types of rumors about it.So what i think is that no bank would do that because it surly directly affect the bank's business and also affect the national currency and no bank would like to devalue the national currency which cause major loss to them.And one more thing is that the terms and conditions are always there for every bank which don't allow them to do so.

[Radio-Active]

Banks will trade cryptocurrency sooner than people think, says former JPMorgan blockchain executive. If you are thinking to buy some bitcoins, it is right time as prices will go up soon.

Source: https://www.cnbc.com/2018/05/18/banks-could-start-trading-crypto-soon-says-fmr-jpmorgan-executive.html

If bank start to trading crypto, i think they will accepting cryptocurrency deposit too in the future.
But if that happening, maybe the cryptocurrency value will spiking again like last year in dec 2017.

[InKiTy38]

I think that in the near future banks will accept and support the crypto world can be legal and further development in the future, if there is support from the bank then the bitcoin will play develop better

[CanineDanny]

I don't think staying away from Bitcoin or crypto is good for banks, so yes, I guess they will start playing the lucrative game soon. Looks like they are still working on their own rules of the game But when they join, it should be more exciting.