Citi considers launching into crypto world after a surge in client interest

Monday 10 May 2021 11:50 CET | News

Citigroup, a currency trading bank, has announced it is considering taking its first steps into cryptocurrency markets after a surge in interest from clients.

The group is the latest bank to consider pushing into the new. Despite the reputational challenges, dealers have been forced to respond to surging interest in Bitcoin from asset managers and hedge funds.

According to the Financial Times, the bank had not yet decided whether it would offer its clients cryptocurrency-related services, but trading, custody, and financing were all under consideration.

In March, Citi issued a 108-page report noting that despite ‘a host of risks and obstacles that stand in the way of Bitcoin progress’, the cryptocurrency ‘may be optimally positioned to become the preferred currency for global trade’.

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Keywords: Citi, product launch, cryptocurrency, banks, Bitcoin
Categories: Blockchain & Cryptocurrencies | Cryptocurrencies
Countries: United States
This article is part of category

Blockchain & Cryptocurrencies

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