Bank of America Executive considère la crypto comme classe d'actifs: « Je ne considère pas cela du tout comme une concurrence »

Bank of America Executive considère la crypto comme classe d'actifs: 'I Don't View It as Competition at All'

Banque d'Amérique’s chief operating officer does not see cryptocurrency as competition. Au lieu, he views it as an asset class, en notant que “people like it for all sorts of different reasons.

Banque d'Amérique’s COO on Crypto: ‘I Dont View It as Competition at All

Bank of America COO Tom Montag talked about cryptocurrency Thursday in an interview with Chainalysis CEO Michael Gronager at a conference hosted by the blockchain analytics firm in New York.

Montag is also president of Bank of Americas Global Banking and Markets and a member of the companys executive management team. He is responsible for all of the businesses that serve companies and institutional investors.

He said cryptocurrency reminded him of derivatives in their early days. He also admitted that he does not understand stablecoins. “je n'en ai pas’t understand that as well as everyone in the roomIs there really a dollar behind stablecoin?”

The Bank of America COO was also asked whether banks are competing with crypto. He replied:

je n'en ai pas’t view it as competition at all. I view it as just another asset classand people like it for all sorts of different reasons.

The Bank of America executive is not the only one seeing crypto as an asset class. Rival investment bank Goldman Sachs said in May that bitcoin is an investable asset. JP Morgan said in July that a lot of its clients see crypto as an asset class that they want to invest in.

Commenting on whether bitcoin is a store of value, Montag shared: “I came around to how this could have value as a global store of value. Ce’s hard to appreciate the importance of that as an American when youre used to having a stable currency.

As for the Federal Reserve launching its own central bank digital currency (CBDC), he opined, “It will be inevitable, but it will be fine.Federal Reserve Chairman Jerome Powell mentionné in September, “We are working proactively to evaluate whether to issue a CBDC and, if so, in what form.

Le mois dernier, Bank of America debuted its crypto research, noting that digital assets aretoo large to ignore.” La Banque’s dedicated crypto research team was established en juillet.

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