Growth in crypto-based financial services occurs during a period of significant political and market developments. Since taking office in November 2024, President Donald Trump’s administration has been supportive of the industry. Those involved in the cryptocurrency industry gave heavily to campaign groups seeking laws that support cryptocurrencies.
The price of bitcoin reached an unprecedented $111,980 in May 2025, driven by investor confidence and supportive government regulations. JPMorgan’s new offering aligns with recent trends by providing regular banking services that facilitate the regulated use of cryptocurrency. Many of these institutions are investigating these alternatives. For example, Morgan Stanley aims to enable customers to trade cryptocurrency through its E-Trade platform. When banks utilize technologies like cryptocurrency, they acknowledge its significance in the evolving financial landscape.
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