A large American bank holding Morgan Stanley plans to offer clients to trade complex derivatives linked to bitcoin.
According to Bloomberg, investors will be able to open positions at various intervals using swaps, and the bank will earn on spreads from transactions. Morgan Stanley is not yet interested in direct cryptocurrency trading, so the instruments themselves will be tied to BTC futures.
The technical component of the platform is already ready for launch, but the bank is awaiting confirmation of the interest of institutional clients and subsequent internal approval. Previously, the company’s management stated that it would not work with cryptocurrencies directly, but would create a trading platform to support various derivatives based on digital assets..
Goldman sachs and Citigroup also not ready to operate directly with virtual currencies, but intend to offer regulated derivatives and products related to their storage.
The Blockchain Association, a lobbying organization, was recently formed in Washington to advance the interests of companies related to cryptocurrency and blockchain..
text: Ivan Malichenko, photo: bloombergquint