According to reports, Citigroup has seen “very rapidly” accumulation of interest in Bitcoin from a wide range of customers, including large asset management companies. As more and more banks provide bitcoin-related services to their customers, the bank is now considering launching its own encryption service. Goldman Sachs and Morgan Stanley.
- According to a report from the Financial Times on Friday, Citigroup is reportedly considering launching a cryptocurrency service after seeing a surge in customer interest.
- Although no decision has been made on its encryption service, the publication reported that “transactions, custody, and financing are all under consideration,” and Itay Tuchman, head of the bank’s global foreign exchange operations, quoted the publication. news.
- Citigroup executives told the publication that Citi saw Bitcoin accumulate “rapidly” among a wide range of customers, including large asset management companies.
- The news that Citigroup is considering launching crypto services comes as more and more large banks join the cryptocurrency train. Investment bank Goldman Sachs has launched bitcoin derivatives trading and has reverted back to its bitcoin trading platform, aiming to provide a “full range” of bitcoin investments. In addition, Morgan Stanley has provided wealthy clients with access to Bitcoin funds, and JPMorgan reportedly plans to provide crypto services.
- At the same time, it is reported that hundreds of smaller banks are planning to provide their customers with services to buy, sell and hold cryptocurrency through their existing bank accounts.
- Some Citi analysts have been optimistic about Bitcoin. Citibank said in March that Bitcoin is at a turning point and may become the currency of choice for international trade. Citibank predicted in November last year that by the end of this year, the transaction price of Bitcoin will reach $318,000.
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