Morgan Stanley, one of the largest US banks ever, has launched an official cryptocurrency research team. With this, they are expanding their interests in crypto, having already released a Bitcoin investment tool earlier this year.
Crypto and Morgan Stanley
So Morgan Stanley is launching a cryptocurrency research team. With this, as the largest bank in the United States, they want to be at the forefront of knowledge and innovation. So there is also a good chance that they will be releasing various “products” around cryptocurrency in the future.
As the leader of the team, Morgan Stanley has appointed Sheena Shah. Sheena Shah has been working for the bank for 8 years. Previously she worked as a chief currency strategist, but now she will fully focus on the world of crypto. She will mainly focus on analyzing crypto and what kind of impact it has on certain things, both focused on the bank and the world.
Morgan Stanley is starting to get more involved in crypto anyway. For example, they already made several investments in Bitcoin themselves, through the investment funds of Grayscale Investments. In addition, they launched a tool that makes it possible for their millionaire clients to invest in Bitcoin through Morgan Stanley.
Morgan Stanley is not the only major bank to get involved in crypto. For example, earlier this year, Bank of America also set up a crypto research department, as well as State Street, one of the oldest, still active, American banks.
The fact that even the largest financial institutions on earth are getting involved in crypto in a positive way is obviously music to our ears. It is the next step in the adoption of crypto.
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