With everything that has gone on in crypto over the past year, Wall Street would be excused for wanting to take a rain check on digital assets. But some big banks and other large financial firms– like exchanges and asset managers–are moving ahead with their plans in the space.
Initiatives range from launching new cryptocurrency trading platforms, offering custody of digital currencies or focusing on how blockchain can be used to issue and trade traditional assets like bonds. Some executives at these firms see recent scandals in crypto, like the collapse of FTX as a big opportunity to capture a new market as it is likely to drive more regulation.
And If more regulation is coming to digital assets, who would be better placed to offer services in the space than a big regulated financial institution?
Bloomberg reporter Yueqi Yang joins Bloomberg senior editor Anna Irrera in this episode to talk more about what Wall Street is thinking.
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