Citigroup gears up to trade bitcoin futures, reports say

The financial conglomerate Citigroup expects regulatory approval to begin trading bitcoin futures on the Chicago Mercantile Exchange (CME). CoinDesk reports, citing its own sources.

One of the publication’s sources noted that the bank has recorded a surge in client interest in cryptocurrency amid the recent rise in bitcoin’s price to $50,000.

According to another unnamed source, Citigroup is actively recruiting staff for a digital-asset-focused team based in London.

“The team is most likely to receive approval to begin trading bitcoin futures on CME, and then exchange-traded notes based on cryptocurrency,” he added.

Earlier, in June, Citigroup announced the creation of a group to work with digital currencies within the Citi Global Wealth Investments asset-management arm.

In May, Citigroup’s head of foreign exchange Ito Takman said that the bank is considering launching services for trading and custody of cryptocurrencies.

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