Quote from: pundit on December 03, 2018, 01:55:03 PM

Quote from: audaciousbeing on May 20, 2018, 06:13:48 PM

Quote from: krishnaverma on May 20, 2018, 08:17:19 AM

Banks will trade cryptocurrency sooner than people think, says former JPMorgan blockchain executive. If you are thinking to buy some bitcoins, it is right time as prices will go up soon.

Source: https://www.cnbc.com/2018/05/18/banks-could-start-trading-crypto-soon-says-fmr-jpmorgan-executive.html

Did you hear the part "could" which can be next week, next month, next year or never. If you know the way bank work, you would realize that they cannot just wake up then decide what they want to do with customers deposits. Except they finance another company to carry such activities with no relationship with the bank and enough provision to cover for the possibility of it failing, they cannot pull it off. Every cents in the bank is accounted for and monitored from the Central Banks, deposits commissions, fraud units etc.

The point is, its not that its impossible but the allowance to use deposits of customer to engage in crypto currency and be open about it, has to come from the way top which we all know its not something that is easy to come by. Its a good proposition and I hope to see it happen anytime soon.

Its true that banks have to report everything to central banks but that does not mean that banking sector cannot enter crypto market, if you are aware the biggest bank in Saudi has adopted ripple. Banks basically invest in different sectors like real estate, stock market etc other than providing loans to consumers which generates income for them. Investing in crypto may be the other choice for banks, its possible that banking institutions may start investing in crypto sooner or later.

I doubt if banks will want to enter crypto trading except it is being regulated globally and even if its regulated, the problem of volatility which I believe might have become a bit stable is one major reason why banks will not want to enter crypto trading. in country such as Nigeria where many banks are closed down by central bank due to instability, banks in this country will not want to try it because of fear of losing money due to high volatiliy. the underlying technology which is the blockchain is what I believe many banks will still tap from as time goes on