Citigroup does not rule out launching Bitcoin trading and custody services

The financial conglomerate Citigroup is considering the possibility of launching cryptocurrency trading and custody services. This was stated by Itai Takman, head of the bank’s currency operations division, in an interview with Financial Times.

He said that since August 2020, large Citibank clients have been actively showing interest in Bitcoin. However, the conglomerate will roll out new services once it develops a useful toolkit supported by regulators, the organization’s spokesperson added.

“I don’t have FOMO [fear of missing out], because I believe that cryptocurrency isn’t going anywhere, and that we are only at the very beginning. This is not a space race,” Takman said.

The Bank of New York Mellon, the oldest US bank, previously announced adding to its list of Bitcoin-related operations and other cryptocurrencies. The organization also acknowledged that its emphasis on gold rather than the first cryptocurrency was mistaken.

In February 2021, the financial holding JPMorgan Chase said it was ready to add Bitcoin support if there was demand.

Earlier, JPMorgan CEO Jamie Dimon acknowledged clients’ interest in digital gold.

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