US megabank Bank of America officially announced on the 4th that it has launched research coverage on cryptocurrencies and other digital assets.
The research on the report titled “Digital Assets Primer: Only the first inning,” will be led by Alkesh Shah, head of Global Cryptocurrency and Digital Asset Strategy.
The news came three months after the company launched its crypto research team in July. The report has broadly defined ‘digital assets’ and will likely cover subjects such as stablecoins, NFTs (non-fungible tokens), Central Bank Digital Currency (CBDC), and more.
In the announcement, the financial giant pointed out the large market size of digital currencies, broadly representing $2 trillion+ market value with 200 million+ users.
“Bitcoin is important. but the digital asset ecosystem is so much more. Our research aims to explore the implications across industries including finance, technology, supply chains, social media and gaming.”
Contents of the report will not be disclosed to the general public and reporters would need to contact Bank of America to get them.