Banks and Klarna embrace crypto, Gemini may IPO as Trump admin signals support for digital assets

Major financial institutions are increasingly embracing cryptocurrencies and integrating them into their services, as the Trump administration adopts a notably pro-crypto stance – marking a significant change from previous U.S. policies.

Mainstream momentum: "After years of skepticism, major banks are finally embracing crypto. Morgan Stanley, Bank of America, and RBC are now competing to underwrite crypto IPOs, marking a significant shift in their stance," Andy Wang, Managing Partner at Runnymede Capital Management, said in a LinkedIn post.

Highly anticipated listings: On top of the regulatory changes under a more crypto-friendly White House opening the door for more institutional involvement, Wang cited two prominent crypto-related listings expected in the near future as indications of how sentiment had changed:

• Cryptocurrency firm Gemini, founded by long-time crypto entrepreneurs the Winklevoss twins, is exploring a 2025 IPO.
• Klarna, a major player in the 'Buy Now, Pay Later' (BNPL) finance space, is integrating crypto ahead of its April listing.

"This could mean greater legitimacy for crypto, but it also raises key questions," Wang wrote. "Are these IPOs a sign of mainstream adoption, or are we entering another speculative frenzy?"

Signs of confidence: Michele Mattei, a Senior Manager at fintech company Quist, said on LinkedIn, a public listing would mark a significant milestone for Gemini and the broader industry. "If successful, the move could provide additional transparency and confidence in the crypto exchange market at a time when institutional and retail investors alike are watching closely."