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Banks Want In on Bitcoin

Banks find digital currency hard to ignore as their customers clamor to buy.

By Hugh Son, Bloomberg | Updated on October 05, 2017

At first, bitcoin was a way to make payments without banks. Now, with more than $100 billion stashed in digital currencies, banks are debating whether and how to get in on the action.

Goldman Sachs CEO Lloyd Blankfein tweeted Tuesday that his firm is examining the cryptocurrency. Other global investment banks are looking into facilitating trades of bitcoin and other cryptocurrencies, according to industry consultants. Bitcoin has surged more than 300% this year, drawing the attention of hedge funds and wealthy individuals.

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