The Bank of America Corporation has established a team to research cryptocurrencies, Bloomberg reports.
Experienced data and innovation strategist Alkesh Shah will head the newly formed committee and directly report to the head of fixed-income, currencies and commodities research globally, Michael Maras.
The coalition will also study technologies that are linked to digital currencies.
“Cryptocurrencies and digital assets constitute one of the fastest growing emerging technology ecosystems,” The head of global research for Bank of America, Candace Browning said in the memo obtained by Bloomberg.
She added: “We are uniquely positioned to provide thought leadership due to our strong industry research analysis, market-leading global payments platform and our blockchain expertise.”
A representative of Bank of America confirmed that the memo seen by Bloomberg is legitimate but refused to add any comment.