The U.S.’ second largest bank already has over 50 blockchain-related patents — more than any other entity.
Bank of America News
Bank of America (BofA) is an American financial conglomerate providing a wide range of financial services and is one of the largest bank holding companies in the USA in terms of assets. It was founded in 1904 and currently headquartered in Charlotte, NC. BofA has become the first financial establishment that has included cryptocurrency in a report about forthcoming financial risks. According to Bank of America, cryptocurrency is not just a threat for their budget, but it complicates the work of preventing money laundering. Also, the company has shown its dependence on innovations made in the market of financial services, including blockchain technology, which can demand a large amount of spending for its implementation. Despite the fact that the holding has expressed skepticism about using Bitcoin, Bank of America has registered some cryptocurrency-related patents in order to prevent customer outflow.
- Tim Draper Urges Argentina’s President to Legalize Bitcoin to Improve Economy
- CME Group CEO Terry Duffy: No Bitcoin Deficit a Problem for Regulators
- Insurance Blockchain Startup B3i Raises $16 Million
- Bitcoin Holds $4,000, British Pound Loses to USD as Brexit Anticipation Grows
- Bitcoin, Ethereum, Ripple, Litecoin, EOS, Bitcoin Cash, Binance Coin, Stellar, Cardano, Tron: Price Analysis, March 25