Home Business Despite the volatility, JPMorgan says it has ‘diamond hands’ for this regional bank big into crypto

Despite the volatility, JPMorgan says it has ‘diamond hands’ for this regional bank big into crypto

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Despite the volatility, JPMorgan says it has ‘diamond hands’ for this regional bank big into crypto

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A visible illustration of the cryptocurrency Bitcoin on November 21, 2020 in London, England.

Jordan Mansfield | Getty Images

Volatility in the cryptocurrency market this week hasn’t modified JPMorgan’s optimistic view on shares of Signature Bank, a frontrunner in the digital asset sphere. 

The regional bank’s digital asset banking technique and its real-time, blockchain-based funds platform “Signet” has attracted elevated investor curiosity as cryptocurrency has gained consideration.

The JPMorgan word comes on the tail of a roller-coaster week for cryptocurrencies.

Crypto costs fell as Chinese authorities reiterated calls for tighter regulation on crypto mining and buying and selling, whereas the U.S. Treasury introduced it would require stricter crypto compliance with the IRS.

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