Wall Street Securities Firm Sees Promise in Bitcoin Protocol
Analysts at Wedbush Securities have released a report that re-enforces the promise the lot of the bitcoin community sees in decentralized peer-to-peer networking and currency. Titled Digitizing Trust: Leveraging the Bitcoin Protocol Beyond the "Coin", the report outlines applications for the bitcoin protocol in such areas as securities markets, sports gambling, and legal contracts. "Ultimately, we believe the protocol will be leveraged beyond financial assets and fulfill the role of trusted intermediary in a variety of settings, including property, legal documents, escrow, sports betting,....
Related News
It's getting harder by the day for traditional investors to ignore bitcoin. Today, The Wall Street Journal reports that the Bitcoin Investment Trust (BIT - which began trading on the OTCQX market May 4 under the ticker symbol GBTC) could bring bitcoin broader acceptance by investors. Some analysts think the fund could prompt speculative interest in bitcoin like the launch of gold exchange traded funds (ETFs) in precious metals a decade ago. The Securities and Exchange Commission is currently reviewing an application for what would be the first official bitcoin ETF, the Winklevoss Bitcoin....
Just how big a financial opportunity is Bitcoin? Recently, Wall Street has been starting to ask that very question, paying more and more attention to the upstart alternative currency. The first analysis by a registered broker dealer which attempted to value bitcoin's worth was published on 1 December by Wedbush Securities. While Los Angeles-based Wedbush is a respected securities firm, it doesn't count itself among the first-tier of investment banks, or the 'bulge bracket' as its known on Wall Street. The Wedbush research report contained some novel analysis and perspective, but it was....
Overstock's crypto subsidiary tØ has acquired Wall Street brokerage firm SpeedRoute, a move the latter's CEO termed a 'quantum leap' for securities trading. TØ (pronounced t-zero), unveiled last month at Nasdaq's New York headquarters, is a blockchain-based equities trading platform Overstock claims could revolutionise clearing and settlement. The SpeedRoute deal, it says, marks a momentous step toward connecting the crypto and capital markets. SpeedRoute CEO Joseph Cammarata said in a release: 'This collaboration allows Overstock to enter this new financial technology arena with a speed....
Investment management firm State Street says that institutional clients are not deterred from investing in crypto assets despite price declines. “There is a belief that the asset class is here to stay,” a State Street executive said. State Street on Institutional Demand for Crypto State Street, a leading investment management firm, sees unwaning institutional demand for cryptocurrency despite market sell-offs, the Sydney Morning Herald reported Monday. Irfan Ahmad, State Street Digital’s product lead for the Asia-Pacific region, said the banking giant’s....
Wall Street has been embracing the latest wave of Silicon Valley financial tech at a fast rate. Over the past several months, many Wall Street Financial companies have embraced the new wave fintech enterprises with remarkable speed. The blockchain an online ledger that tracks the movement of digital currency, but it can also be used to manage, register and secure anything else that has value. Wall Street companies seem to have seen the true potential of the blockchain technology and many are now rushing to invest and develop new applications with this new technology. Jamie Dimon, JP Morgan....