Wall Street Banks Eye Cryptocurrency Industry: Exploring Opportunities in IPOs and Convertible Bonds

Interest in the cryptocurrency industry is growing on Wall Street, the financial hub of the United States. There are claims that Wall Street banks are exploring ways to secure cryptocurrency businesses.

On the 10th (local time), Bloomberg News, citing sources, reported that Wall Street banks such as Morgan Stanley, Bank of America, and Royal Bank of Canada are interested in the cryptocurrency industry.

Specifically, Morgan Stanley is attracting cryptocurrency companies planning to go public (IPO), and executives at Bank of America are discussing plans to facilitate transactions for digital asset companies. Additionally, Royal Bank of Canada, after conducting cryptocurrency transactions at the end of last year, is exploring ways to expand more cryptocurrency businesses.

Bloomberg evaluated this by stating, "With President Donald Trump showing a friendly attitude towards cryptocurrencies, Wall Street banks have also seized opportunities in the industry." Indeed, many companies in the cryptocurrency industry are reportedly preparing for IPOs this year. Notable examples include Gemini, Bullish, Kraken, and Circle.