JPMorgan To Offer Crypto Trading But Won't Custody Assets Directly

JPMorgan is developing cryptocurrency trading services for its clients, as confirmed by Scott Lucas, the global head of markets and digital assets at JPMorgan. While the bank is eager to expand its blockchain and crypto exposure, it is not currently planning to offer direct custody of cryptocurrencies. Lucas stated that although the bank sees various opportunities in the crypto sector, custody is not a near-term goal. He emphasized an 'and' approach, indicating a plan to explore multiple avenues in the blockchain space, rather than focusing solely on one. JPMorgan has been increasing its engagement with crypto and blockchain, partly influenced by CEO Jamie Dimon's evolving stance on digital currencies. Lucas also expressed confidence in continuing opportunities within the public blockchain landscape and indicated that JPMorgan will take action in this area within the coming quarters.

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