We can present the news in 10 words: JPMorgan He registered a trademark for crypto wallets. Actually, nine. But in fact behind such a step, certainly taken before broke down From FTP extensionThere is a whole world of potential consequences for cryptocurrency guarding and Bitcoinsas well as for the sake of the future of the eternal struggle between self-custody and entrustment to third parties, which for many is merely a re-proposal of the eternal conflict between we will and the bad.
One of the most important and smartest banking groups in the world has already taken its first steps. And with the disaster From FTP extension Perhaps you will find fertile ground among the audience that … maybe not what everyone dreams of.
Can entering such a group have positive effects on the market? Those who think so can also consider, given the particularly high stakes in this period, exposing themselves to the direct purchase of crypto assets. binance – Go here for a free account – We can choose from hundreds Available assetsand then transfer it if we want to our wallet.
We will also be able to choose internal products – taking into account counterparty risks – to achieve savings and benefit from the respective assets. All with complete freedom of choice in how you act.
JP Morgan in the world of bitcoin and cryptocurrency wallets?
For now, it will only be a matter of registering a trademark, which can be used to provide services Pocket wallet And the Custody. Why? For crypto assets, and therefore for Bitcoins And maybe for those with a higher capitalization. It’s not yet clear what it is, if it will actually be implemented and if it will be available to everyone, but it’s still a sign of what’s going on inside the crypto world.
Or rather, what happens within a world Custody. There is a problem to solve, and that is offering people a secure way to store their assets and possibly even spend them (this is also covered by the trademark registration that was introduced by JP Morgan). And many, at least according to Banks and also according to this writer, may not find self-custodial as a viable premise (we’ll come back to this later).
What could be easier for banks to try to eat a slice of this sector? You can charge a small annual fee for custody or go and charge it for transfers. Customers will find themselves with an additional service included in the app and the home banking they already use and the authorities will be happy because their interlocutor will be an already open entity. Know your customer And the AML extensionor obligations to identify its customers and apply anti-money laundering rules.
ideal situation? For those who live deeply the ideals that pulsate Bitcoins Mostly not. But like it or not, we may as well go down this path, at least if the smartest banking groups try to earn a place in the sun in this market.
Free market welcome: But some will complain
An essential part of the culture that energizes Bitcoins It is certainly an aspect of taking direct control of one’s assets, without intermediaries, for profit or otherwise. However, the preservation sector, which is a testament to the myriad of services associated with it that already exists, is among the most attractive for groups already active in this sense, and for perhaps the most popular funds.
If we had to make a prediction now, we would consider the market developing in that direction more than likely, provided that Bitcoins And the encrypted assets She soon resumes the practice of a certain ascension towards the common people selling by piecesThat is, ordinary people.
I wonder if anyone will follow a commitment JPM extension. It seems to us a fairly easy path, assuming some regulatory clarity reaches the major economies of the world. Tempting occasion also created by situations like broke down From FTP extension.
Like it or not, the war on this battlefield will continue, and my subjects will continue FTP extension They will eventually be replaced by the more structured (and more audience-credible) themes. Should the nursery culture prevail? in a world where Bitcoins It will also be absorbed Philosophically Yes, but it’s going to be a long road full of well-crafted enemies.