JPMorgan: Blockchain Tech is an ‘Opportunity’ for Asset Managers
A new report from JPMorgan Chase and consultancy firm Oliver Wyman argues that blockchain technology presents an opportunity for asset managers. The report, released on 13th July, seeks to position the emerging technology as a means for asset managers to offer more sophisticated services to clients. It offers a broad overview, ultimately arguing the industry sector needs to "get off the sidelines" and begin investigating how they can adopt the technology. The report states: "Revenue opportunities will grow out of the improved data sources, greater liquidity and lower....
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JPMorgan Chase and consultants Oliver Wyman have joined calls for traditional investment banking to “embrace the Blockchain” or be left disadvantaged. JPMorgan: ‘Get Off the Sidelines’. In a joint report issued last week, the firms described the current industry mood as “a consensus… forming that [Blockchain] is the real deal.” “Disregarding it is a....
A professor of finance and business economics at the University of Southern California says that asset managers focusing on growth strategy could violate their fiduciary duty if they do not consider bitcoin in their portfolios. Asset Managers With Growth Focus Need to Consider Bitcoin Financial researcher Nik Bhatia said last week that asset managers seeking growth returns on behalf of their clients need to consider bitcoin, the Insider reported. Bhatia is also an adjunct professor of finance and business economics at the University of Southern California Marshall School of Business. In....
A number of asset managers have cautioned about investing in cryptocurrencies, including UBS Wealth Management, Pimco, T. Rowe Price, and Glenmede Investment Management. “We expect more stringent policy and regulatory controls ahead for crypto as it becomes more mainstream,” said UBS. Asset Managers Caution of Crypto Investing A number of asset managers have expressed caution on cryptocurrency after the recent price swings, including UBS Wealth Management, Pimco, T. Rowe Price, and Glenmede Investment Management, the Financial Times reported Monday. UBS Wealth Management....
JPMorgan expects blockchain use in finance to increase as the crypto sector grows. The global investment bank says, “We want to make sure that we are able to not only support that but also be ready to provide related services.”
JPMorgan’s Blockchain Plans
JPMorgan Chase & Co foresees increased blockchain usage in traditional finance and is getting ready to offer related services, Bloomberg reported Thursday.
The global investment bank has been using a blockchain for collateral settlements, allowing its clients to use a wider range of assets as....
JPMorgan has reportedly been moving money between London and Tokyo as part of a trial that incorporates blockchain technology. According to The Wall Street Journal, the tests involve about 2,200 of the bank’s clients. Daniel Pinto, CEO of the firm’s corporate and investment banking unit, told the news outlet that the test is a prelude to using the technology to move real funds internationally using a blockchain. More details, the report indicated, will be offered during an investor event today in New York. The bank has been testing the technology in collaboration with New York blockchain....