Quick take:
- Both spot and derivatives trading are reportedly under consideration.
- The report comes out amid JPMorgan’s increased activity around crypto as demand from clients increases amid evolving U.S. crypto regulations.
- The company rolled out its JMP Coin to institutional clients in November and launched its first tokenized money market fund on December 15.
JPMorgan is reportedly considering launching crypto trading for institutional clients. A person familiar with the matter told Bloomberg that the company is assessing what products and services its markets division could offer to expand its footprint in cryptocurrencies.
According to the report, both spot and derivatives trading are reportedly under consideration. The report comes out amid JPMorgan’s increased activity around crypto as demand from clients increases amid evolving U.S. crypto regulations, with large banks around the world also deepening their involvement in the industry.
If confirmed, the new service would expand JPMorgan’s presence in the industry, after launching its first tokenized money market fund, dubbed My OnChain Net Yield Fund (“MONY”). The fund is powered by Kinexys Digital Assets, JPMorgan’s institutional-grade, multi-chain asset tokenization solution.
In November, the company also rolled out the JMP Coin to institutional clients. The JPMD deposit token allows users to send and receive money via a blockchain, enabling fast payment processing 24/7.
As far as crypto trading is concerned, the plans are still in the early stages, and are seen as a response to rising interest from clients following changes in the US regulatory environment around digital assets, the person said.
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