Wells Fargo Will Offer Actively-Managed Cryptocurrency Product
Wells Fargo will launch an actively-managed cryptocurrency strategy to qualified investors, likely to include some form of bitcoin exposure.Wells Fargo is apparently preparing to embrace bitcoin and other cryptocurrencies, as Darrell Cronk, the president of the bank’s investment institute, told Business Insider that a research division is “planning to evaluate and onboard an actively managed cryptocurrency strategy to its platform for qualified investors.”He noted that efforts to deploy such a product have been in the works for months and is likely to launch in the middle of next....
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Wells Fargo is the next major banking and financial services provider to join the mix of offering crypto assets. The news comes after last week’s report that Swiss-based institution UBS Group AG was looking to make a similar move. Wells Fargo’s Change In Perspective Just a few years ago, Wells Fargo was banning credit card […]
Wells Fargo will soon offer “a professionally managed solution” for cryptocurrency to clients. “We think the cryptocurrency space has just kind of hit an evolution and maturation of its development that allows it now to be a viable investable asset,” said the president of Wells Fargo Investment Institute. Wells Fargo Getting Into Crypto Darrell Cronk, the president of Wells Fargo Investment Institute, a registered investment adviser and wholly owned subsidiary of Wells Fargo Bank, revealed his team’s crypto plans to the Insider in an interview published....
"Rules of Engagement" are the exact words that Wells Fargo used, I can't make this stuff up guys... Even if I wanted to. As reported first in an FT article by Stephen Foley and Camilla Hall, Wells Fargo's anti-money laundering chief Jim Reynolds has launched a group to investigate how exactly Wells Fargo, and major financial institutions by extension and inclusion, might offer banking arrangements safely to Bitcoin-related services. Wells Fargo's chief executive John Stumpf further elaborated stating that it was Wells Fargo's standard bank practice to look into any financial innovations,....
Wells Fargo had announced earlier in the year that they planned to offer cryptocurrency investments to clients. Something that was referred to as a “professionally managed” cryptocurrency investment. Now the bank has announced that it will begin offering cryptocurrency exposure to its high net worth clients. The Wells Fargo Investment Institute had been working on a way for it to be able to best offer its clients an option to invest in cryptocurrency. Following a re-evaluation on the bank’s stance on crypto. “We think the cryptocurrency space has just kind of hit an evolution and....
One of the largest banks in the United States has organized a summit on what has been described as the "rules of engagement" when it comes to bitcoin, in effort to learn more about this emerging new digital currency and economy. There have been a number of concerns when it comes to digital currency, but Wells Fargo seems to be pointing their sights on the money laundering potential behind bitcoin and other cryptocurrencies. The aforementioned summit has been spearheaded by Well Fargo's Jim Richards - who leads the anti-money laundering division at the bank. Richards set up a group to dig....