Bitcoin exchanges now banking with JPMorgan

JPMorgan (JPM) for the first time is offering its banking services to bitcoin exchanges, taking on Coinbase (COINB) and Gemini Trust as clients, reports the WSJ.Founded in 2012, Coinbase is the largest U.S.-based bitcoin exchange, with over 30M accounts; founded by the Winklevoss brothers in 2014, Gemini is a somewhat smaller player.While JPMorgan will handle traditional banking business with the two, it won't be involved in any crypto-based transactions. Nevertheless, crypto players for years have blocked by banks from opening up accounts, so it's a significant move for the industry.Bitcoin (BTC-USD) this morning is little-changed at $8,777.