A Texas based financial institution, USAA, has recently announced that it has been studying Bitcoin's technology and it will use its research facilities to help support the development of Bitcoin. This interest from a major banking institution signifies good growth potential for Bitcoin.
A major player in the banking, insurance and the investment management realm, USAA's management director of corporate development said that Bitcoin's "Decentralized System" can help USAA's banking operations adopt to the same theme.
USAA's representative, Alex Marquez, said that Bitcoin's “Blockchain” based model could have a very positive impact on his organization. He reiterated that Bitcoin's connection to his organization's goals is so important that they have deployed a considerable number of researchers on the project.
Many major banks are checking Bitcoin's viability as part of their organization. It is expected that Bitcoin will soon evolve into an adoptable product for the mainstream banking industry. The renewed attention from major players in the financial industry only signifies the importance of Bitcoin in the future.
With new Bitcoin based businesses popping up all around the globe, Bitcoin’s support is growing at a very rapid pace. It is expected that financial institutions will soon have to come up with a way to incorporate Cryptocurrencies into their set of supported products.