Cryptos Are Here to Stay, JP Morgan Report Says

This is stated in the internal report of the financial holding
22 March 2018   385

In the internal report of JP Morgan, it is asserted that the cryptocurrencies will not disappear anywhere, they will prosper, and investors will continue to invest in crypto-currencies, attracted by decentralized technologies, anonymity and peer-to-peer networks. This is reported by Smartethereum.

The ecosystem of blockchain will develop further, for a long time, and all existing gaps in the technology of blockchain will be eliminated, JP Morgan believes, according to the report.

The statements in the internal report contrast with the actions of JP Morgan, which last week banned the use of its credit cards for the purchase of cryptocurrency.

JP Morgan's reports, most likely, are not a change in the bank's attitude to crypto-currencies, however, they show that JPMorgan recognizes great potential for crypto-currencies.

In February this year, analysts of JPMorgan Chase presented a report, according to which crypto-currencies can contribute to the diversification global portfolio of securities.

Barclays to Freeze Crypto Trading Project

This is reported by two anonymous sources to Financial News London
15 October 2018   197

One of the largest UK bank Barclays has suspended work on its own crypto-trading project, Financial News reports citing two sources familiar with the situation.

Earlier this year, the bank gathered a high profile team to explore opportunities for cryptocurrency trading as part of its own business. However, according to one source, the initiative was “frozen”.

The former head of Barclays for energy trading, Chris Tyrer, who headed the “digital assets project,” left the bank in September after management decided to freeze the initiative.

Together with Tyrer, the macro-strategy in the field of foreign exchange and emerging markets was Marvin Barth, Senior Technical Specialist Lee Brain, and Consultant Matthew Jobb Duval.

Their task was to determine whether cryptocurrencies are an asset class with far-reaching prospects, whether Barclays customers are interested in them and what type of IT infrastructure will be needed to work with them, the source said.