There are rumours that Morgan Stanley, a US giant financial institution, is on the verge of providing its customers with Bitcoin trade swaps.
Sources further indicate that the giant US bank has held high-table discussions and consultations about the matter and they are studying the case study of Wall Street.
How the Bank Plans Execute this Plan
The bank will enter into contracts with its investors to provide them with synthetic knowledge of the market performance of Bitcoin. Investors will be empowered to “go long or short” utilizing price return swaps and the bank will charge a spread for every activity.
This news marks the recent determination for BTC curiosity from Goldman Sachs contesting claims it had adjourned its agenda of a BTC business desk.
However, a Morgan Stanley representative refused to clarify this news.
Besides the unsubstantiated Morgan agenda, last week was also marred by headlines of Citigroup bank’s intentions to venture into BTC business products.
Just like Morgan and Goldman’s potential benefits to their clients, Citigroup’s customers would be offered with adequate knowledge about BTC markets without necessarily investing in any digital currency directly- a strategy commonly known as a non-custodial transaction.
Emotions concerning the imminent influx of institutional stakeholders through non-custodial trading have encountered censure from cryptocurrency values, particularly Nick Szabo and Andreas Antonopoulos.