10 Traditional Companies that are Moving into Crypto Despite Market Downturn
Big traditional companies have continued to embrace crypto in a variety of ways over the past year, despite the current market downturn.
To keep you up to date on who is doing what to secure their slice of the crypto economy, we have gathered a list of 10 traditional companies that have recently taken (another) step into crypto.
Investment banking giant JPMorgan, in October this year, rolled out access to four funds from Grayscale Investments and one from Osprey Funds. Per reporting from CNBC, the roll-out went ahead as a low-profile move by the investment bank, given CEO Jamie Dimon’s earlier criticism of crypto.
However, Dimon’s harsh stance on crypto appears to have softened, with the CEO in April this year calling blockchain technology and decentralized finance (DeFi) “real, new technologies.”
Major Spanish bank Santander Group’s Brazilian subsidiary Banco Santander S.A. said in July this year that it plans to start offering crypto-related services to customers “in the coming months.”
“We recognize that it is a market that is here to stay, and it is not necessarily a reaction to competitors positioning themselves, it is simply a view that our client has demanded this type of assets, so we have to find the most correct and more educational way of doing so,” Santander Brazil CEO Mario Leão was quoted as saying at the time.
Major asset manager BlackRock in August partnered with the publicly listed crypto exchange Coinbase to enable the former's institutional clients who also own digital assets on Coinbase to use Aladdin, the asset manager’s suite of software tools, to manage their portfolios and conduct risk analysis on investment decisions.
For now, the partnership is focused on bitcoin (BTC) only, although Joseph Chalom,
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