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JPMorgan says it has ‘diamond hands’ for this regional bank big into crypto

A visual representation of the cryptocurrency Bitcoin on November 21, 2020 in London, England.

Jordan Mansfield | Getty Images

Volatility in the cryptocurrency market this week hasn’t changed JPMorgan’s optimistic view on shares of Signature Bank, a leader in the digital asset sphere.

The regional bank’s digital asset banking strategy and its real-time, blockchain-based payments platform “Signet” has attracted increased investor interest as cryptocurrency has gained attention.

The JPMorgan note comes on the tail of a roller-coaster week for cryptocurrencies.

Crypto prices fell as Chinese authorities reiterated calls for tighter regulation on crypto mining and trading, while the U.S. Treasury announced it would require stricter crypto compliance with the IRS.

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