Bank of America may be looking into cryptocurrency exchange services for its corporate clients – or at least keeping its options open should they become interested. In a patent awarded by the U.S. Patent and Trademark Office on Tuesday, the second-largest bank in the U.S. outlined a potential cryptocurrency exchange system that would convert one digital currency into another. Further, this system would be automated, establishing the exchange rate between the two currencies based on external data feeds. https://www.coindesk.com/bank-of-america-outlines-cryptocurrency-exchange-system-in-patent-award/
An institution that will take all the hassles and necessary documentary requirements for the approval of a patent is certainly very much interested to get into the cryptocurrency market or at least interested to cash-in with the burgeoning trend. The way I see it, there are now many big finance institutions who are looking at the cryptocurrency as one of the most lucrative ways to realize good profits. And Bank of America is not an exemption as they are at the forefront for innovations and creative entrepreneurship.
Certainly, they realized that if they can't stop or limit cryptocurrency then they might as well be a part of it and enjoy the possible profits out of the said activities. These people can smell money from afar and though there had been some finance leaders who expressed fear, doubt and uncertainly about Bitcoin the landscape is now slowly changing when they see that Bitcoin is here to stay and they don't have the power to blow it away.
I am welcoming Bank of America (BoA) to the cryptocurrency and Bitcoin community! Find your seat and enjoy your stay!