🚀 Wall Street’s Crypto Shift: Big Banks Quietly Gear Up for Digital Assets 💰🔗
More than half of the 25 largest U.S. banks are now actively exploring or rolling out crypto-related services, particularly in custody and trading, according to an Aug. 8 chart from River.
Key Moves:
🏦 Morgan Stanley – Considering allowing 15,000 brokers to recommend spot Bitcoin ETFs with suitability safeguards.
📊 Charles Schwab – Adding Bitcoin & Ethereum trading for clients wanting all holdings in one view.
🤝 PNC – Partnering with Coinbase for direct in-account crypto trading.
🪙 State Street – Developing a stablecoin and tokenized deposits, plus tokenizing bonds and money-market shares.
🛡️ BNY Mellon – Appearing in ETF filings, custodian for Ripple’s RLUSD stablecoin reserves.
⚡ Citi – Running Solana-based tokenization pilots and weighing crypto custody.
🔗 JPMorgan – Testing a tokenized deposit on Base, trialing stablecoin services, and integrating Coinbase access into client dashboards.
📈 What This Means for Crypto Holders & the Market?:
This isn’t a floodgate-opening moment yet—access remains limited to high-net-worth or advisory clients—but it’s a clear signal: the biggest U.S. banks are moving from watching crypto to building the infrastructure for it.
For crypto holders, this could mean:
✅ Greater legitimacy in the eyes of traditional finance
🔒 More secure, regulated options for holding and trading
🌊 A path toward wider mainstream adoption that could deepen liquidity and reduce volatility over time
In short, Wall Street’s cautious but steady embrace of digital assets is laying the groundwork for crypto to become a core part of the global financial system. 🌍🔮