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🎓 Has the banks’ race towards digital currencies begun? US bank launches direct forex trading service

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In his tweet, the investment bank Cowen Inc launched a new service that allows to invest through it in the digital currency market directly, as well as in trading platforms, and this service made the bank one of the first banks to adopt instant trading services for digital currencies. .

The service will allow customers to exchange 16 digital currencies, including Bitcoin, Ethereum, Solana, and other popular currencies.

The race to adopt the idea of ​​digital currencies began during the era of President Biden, who gave his executive orders to create a digital currency for the US dollar.

The bank is planning a new business in which it will provide other services for digital currencies, such as futures trading, lending, institutional access to decentralized finance platforms, and non-fungible tokens.

The oldest bank in America plans to launch a platform to store digital currencies

We mentioned earlier that New York-based BNY Mellon announced that it plans to launch a cryptocurrency storage platform. BNY Mellon is investigating this service to allow its customers to store cryptocurrencies. Said the head of risk management for the currency and the digital service.

Under the BNY Mellon crypto initiative, customers will be able to hold major cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH) in BNY Mellon wallets. In addition, the aforementioned digital wallets will be supported by Fireblocks technology.

Fireblocks is a digital currency custody, transfer and settlement platform. MPC-CMP wallet technology.

The Managing Director of the International Monetary Fund (IMF) has called for central bank digital currencies (CBDCs) to be “prudently designed” to compete with special forms of digital currencies and stablecoins.

The future of money, digital currencies, and central bank digital currencies was the topic of IMF Managing Director Kristalina Georgieva last week when she spoke to an audience at the Atlantic Council in Washington, DC:

“Central banks are in the process of experimenting with digital currencies, but they are still in their infancy. We don’t know how far they will go or how fast this new technology can take us.”

The idea of ​​a central bank digital currency (CBDC) has gained momentum recently, not only because of its ability to reduce inflation and increase monetary stability in all countries; But also because of the recent developments in the financial sectors around the world, which are showing great interest among investors who are eagerly awaiting what comes next.

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