JPMorgan Ditches Crypto Custody, Focuses on Trading Instead

As the cryptocurrency market continues to evolve on Wall Street, major banks are making strategic moves. While Citi is planning a cryptocurrency custody service by 2026, JPMorgan has decided against offering similar services. Scott Lucas, head of global digital assets markets at JPMorgan, announced on CNBC’s Squawk Box Europe that the bank will trade cryptocurrencies but not store client assets directly. He explained that while JPMorgan aims to offer trading services for customers, custody services are unlikely in the near term. )