Let’s just refresh our memories on a few critics, a few months ago JP Morgan chief, Mr. Jammie Dimon, has long been an ardent critic of bitcoin.

But for now, institutional money seems to be flowing in Crypto Avenue, because of which digital currency values are getting stability and will receive a significant boost in the days to come. Evidently, JP Morgan CEO and crypto pessimist Jamie Dimon recently expressed regret for describing Bitcoin as a fraud and acknowledged that “the Blockchain is real.

Amid this buzzing and speculative world of cryptocurrencies, if we are thinking, when will Wall Street banks begin crypto trading? The day is closer than we think, according to a former J.P. Morgan executive.

Amber Baldet, formerly of J.P Morgan reckons that the big banks will begin trading cryptocurrency as soon as possible. She made this declaration during an interview with CNBC. According to her, such a move is even closer than many people think. This revelation holds a fair bit of weight given that it is coming from someone with insider knowledge of Wall Street.

She figured out some critical issues standing in the way of broader crypto adoption by big banks. Lack of regulatory clarity and problems concerning custodial services are among the main challenges preventing a greater institutional presence in the market.

The major banks have no secure crypto-custody framework at the moment. This lack of trusted safeguards for cryptocurrencies might soon be a thing of the past.

Both Nomura and Coinbase announced last week that they were launching crypto custodial solutions.

Currency Strength Index: FxWirePro's hourly USD spot index has shown -18(which is neutral), while hourly BTC spot index was at 115 (bullish) while articulating at 12:36 GMT. For more details on the index, please refer below weblink:

http://www.fxwirepro.com/fxwire/currencyindex

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