Citigroup Gets Excited About Cryptocurrencies

Citigroup Inc has become another of the Wall Street giants that has shown interest and love for the cryptocurrency market.


May 7, 2021, | AtoZ Markets - Rumors says Citibank considering launching various services related to digital assets for its clients, according to a report presented by the Financial Times.

Citi's global head of foreign exchange Itay Tuchman revealed  the bank plans to introduce cryptocurrency trading, custody and financing services for it's clients.

The official said the bank's interest on digital currency services was driven by the "very fast" accumulation of interest in Bitcoin within a broad spectrum of its large clients.

He also added that "There are different options from our perspective and we are considering where we can best serve customers".

Citigroup  has been very cautious in reference to Bitcoin (BTC), but making it clear that it has the ability to become an international trading currency and they don't have official plans to launch hasty signature crypto-based services, but it is a space of interest.

While the bank only still evaluating its plans at the virtual currency market, other banks such as Goldman Sachs have gone further, and renewed their crypto trading desks in March, and start to offer Bitcoin derivatives.

Otherwise, Morgan Stanley, BNY Mellon, and Deutsche Bank are just a few  big banking names that offer crypto services.

This is a great news for Bitcoin traders, who are eagerly awaiting the Citi Group to carry out yours transactions.

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