JPMorgan is bullish on this crypto-loving regional bank share
A visual representation of the Bitcoin cryptocurrency on November 21, 2020 in London, England.
Jordan Mansfield | Getty Images
The volatility of the cryptocurrency market this week has not changed JPMorgan’s optimistic view of the shares of Signature bank, a leader in digital assets.
The regional bank’s digital asset banking strategy and its ‘Bookmark’ blockchain-based real-time payment platform have attracted increased investor interest, with cryptocurrency gaining attention.
The JPMorgan Note comes at the end of a week’s roller coaster ride for cryptocurrencies.
Crypto prices have fallen as Chinese authorities reiterated calls for tighter regulations on crypto mining and trading, while the US Treasury announced that it would demand tighter crypto compliance with the IRS.