CoinVoice has recently learned that, according to CoinDesk, JPMorgan (JPM) plans to offer cryptocurrency trading services to institutional clients, which could reshape the competitive landscape but may not necessarily harm the interests of its competitors.
Analysts say the involvement of Wall Street giants may benefit existing players like Coinbase (COIN), Bullish (BLSH), and Galaxy Digital (GLXY), while also signaling that competition will become more intense.
ClearStreet analyst Owen Lau stated, "If JPMorgan offers cryptocurrency trading to institutional clients, it will have a huge positive impact on the sector," adding that "this will further legitimize cryptocurrencies and expand distribution channels." He continued, "The domino effect is likely to spill over to other banks. Coinbase and Bullish are well-positioned to benefit from integrating and matching institutional orders from this vast distribution channel." [Original link]
