Bank of American Merrill Lynch (BAAM) is an active investor in the digital asset space, and recently announced that it will partner with a leading investment bank on a major new digital asset platform.
In its announcement on Wednesday, Bank of Americans Merrill Lynch said it will use the platform to connect its financial services customers to banks around the world.
BofA Merrill Lynch will provide a wide range of services including online and mobile banking, and offer a broad range of products, including a global portfolio and exchange-traded fund.
The bank will work with the Bank of England (BOE) to develop a financial services platform that offers real-time access to the financial services of the world’s leading banks and financial institutions, including BofA’s global network of retail, investment and retail-focused retail accounts.
“We are excited to partner with the bank to help us deliver on our ambitious vision of bringing more banking to more people,” said Bank of Americas CEO Jim Ruch.
“By providing a platform to the people, we can offer more customers the benefits of banking, as well as better service for our customers.”
Bofa Merrill Lynch has invested heavily in digital assets and has invested in over $100 billion in digital currencies.
The new platform will be available for banks worldwide, as Bank of Ameras Merrill Lynch, and Bank of Bofa’s digital asset business have been co-founding an alliance to support the digital economy.
Bofas Merrill is a global provider of financial services and consumer products, and its digital asset products include Bofax, Bofex, and Bofiex, the worlds leading digital currency exchange.
In December, B&A Merrill announced it would invest $1 billion in a new digital-based fund, a joint venture between Bank of Asia, Bocas, and Credit Suisse.
The bank has also pledged to partner and invest in a digital asset fund that will include B&A Merrill.