BitRss.com latest World Crypto News

Search and discover the latest Cryptocurrency updated Stories in Categories

24-7 World Cryptocurrency News about Blockchain, Technology and much more, only from Top Leading Sources

Citi bank is considering launching crypto trading and custody services

Banking giant Citigroup is considering launching crypto trading, custody, and financing services.
Itay Tuchman, Citi's global head of foreign exchange, told the Financial Times in a report published Friday that the bank had seen a "very rapid" accumulation of interest in bitcoin from large clients since last August.
"There are different options from our perspective and we are considering where we can best service clients. This is not going to be a prop-trading effort," said Tuchman, referring to proprietary trading in which banks trade with their own money to make a profit.
Citi, however, is in no rush to launch crypto services. Tuchman said the bank would jump in when it is confident it can build something that benefits clients and that regulators can support.
"I don't have any FOMO [fear of missing out] because I believe that crypto is here to stay and that we are just at the very beginning of the market," he said. "This isn't a space race. There is room for more than just one flag."
In March, Citi published a report saying that bitcoin could become "an international trade currency" as it evolves. "Perceptions about what makes bitcoin important continue to evolve and create new opportunities while increasing its perception towards becoming mainstream," the bank said at the time.
Citi is the latest Wall Street financial institution to consider moving into the crypto market. In recent weeks, Goldman Sachs ,  Morgan Stanley ,  Bank of New York Mellon , and others have moved to provide crypto services to their clients. © 2021 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

BitRss.com shares this Contents always with License.

Thank you for Share!

   
Tumblr
LinkedIn
Reddit
VK

WhatsApp
Telegram

Search about Crypto News


BITRSS | CRYPTOCURRENCY WORLD NEWS

The latest Top News, only from Leading exponents of BlockChain, Bitcoin and different Accredited Crypto Currency Sources.

Since 2015, our Mission was to Share, up-to-date, those News and Information we believe to represent in an Ethical and sincere manner the current Crypto Currencies World: everything you are looking for, in one place!

We have always tried to give priority to the News; for this reason we have designed BitRss.com simple and intuitive, usable by all Devices, fast and effective.


| LEARN MORE ABOUT |

Today Most Popular News