Bank of America Prepares for Bitcoin-Backed Lending Services, Reports Indicate

According to reports by on-chain analysis firm Coin Bureau, Bank of America, a leading US bank managing approximately $1.7 trillion in assets, is progressing with preparations to launch Bitcoin-backed lending products. This initiative represents a crucial step towards the integration of cryptocurrency with traditional financial systems. In early December, Bank of America disclosed to advisors within its Wealth Management divisions—Merrill, Bank of America Private Bank, and Merrill Edge—that they are now permitted to recommend Bitcoin in client portfolios. This update includes major Bitcoin ETF...