Coming to a Bank of America near you: Cryptocurrency brokerage accounts?

On December 2017, Bank of America received their 2nd United States patent within the cryptocurrency sector, bringing them into the running with the technology giants Google, Paypal, and Amazon.

BofA’s new “Cryptocurrency transformation system” invention, number 9,836,790, describes an automated method that both retail users and enterprises could use to “float” funds with the bank and enjoy automatic conversion in and out of cryptocurrencies based on fluctuations in exchange rates.

9,836,790 appears to be a leading indicator that Bank of America will make a product technology play to offer cryptocurrency support of some form to the customers. We will be watching!

Remember that the cryptocurrencies themselves are unregulated and prone to extreme market fluctuations. CBOE recently received positive investor reaction to their Bitcoin futures market offering. Robotic and Artificial Intelligence systems, such as AIEQ’s AI Powered Equity, are being used by advanced investors to gain timing leverage over classic manual traders. Remember the 2010 Flash Crash when the DJIA lost 1000 points in minutes and eroded approximately $1 Trillion in capitalization?

Taylor Brockman, Cryptocurrency Sector, December 13, 2017
For a deeper dive into the Cryptocurrency industry, you’ll find a wealth of information in our packaged sector: