The cryptocurrency market continues to stand out in the financial world. But even so, the question of when the Wall Street banks will start cryptocurrency trading is wondering. According to former JP Morgan manager, it may be close to that day as we think.
Big Banks Coming Soon to Cryptocurrency Trading
Former JP Morgan employee Amber Baldet , in an interview with CNBC in recent days, said she believes big banks will start trading in cryptocurrency in the very near future. It even suggested that this development would be even closer to what most people expect. The fact that such an assertion had previously worked on Wall Street and came from someone with knowledge of this area makes this claim even stronger.
Baldet was at the beginning of JP Morgan’s Blockchain section before she left her job in April. Another development on Wall Street was the announcement of Goldman Sachs plans for Bitcoin trade services. If this project is alive, Goldman Sachs will be the first bank to bring cryptocurrency to Wall Street.
At the same time, Baldet also addressed some of the more important problems that big banks have in front of their cryptocurrency counterparts in a broader sense. The lack of clear regulation in the market and some of the outstanding problems with regard to safekeeping services are some of the most important problems preventing larger enterprise companies from entering the market. Big banks do not have a structure that will safely keep their cryptos now. During the past week they had announced that they would offer Nomura and Coinbase crypto-protection solutions.
A New Search Engine for the Blockchain Ecosystem
Baldet also talked about her next attempt after she left Wall Street. In the last days at the Consensus conference in New York, Baldet announced new projects Clovyr. Clovyr’s blockchain DAPPs (decentralized applications) would be an application market, indicating that Baldet is related to the project, she said:
“There’s no way to discover what’s out there right now; there’s no Google for finding applications. The ability to discover apps is helpful, but the ability to build them is also encompassed in there.”
That’s why Clovyr is more than a Blockchain search engine. Through this platform, developers can create their own DAPPs. Baldet’s Blockchain solutions are a tremendous experience in developing solutions. She was one of the key members of the team who created the Quorum Blockchain project during his time at JP Morgan.