Citigroup forms digital assets unit

The financial conglomerate Citigroup announced the creation of a group to work with cryptocurrencies within the Citi Global Wealth Investments asset management arm, according to The Block.

\n\n\n\n

“Given the exciting new developments we are seeing around cryptocurrencies, tokenisation and other blockchain-based advances, we are pleased to announce the formation of the Digital Assets Group,” the memo cited by the publication.

\n\n\n\n

According to the memo, the group will work on product development in collaboration with other divisions of the conglomerate and its official partners.

\n\n\n\n

In May 2021, Citigroup’s head of foreign exchange operations Itay Takman said that the conglomerate is considering launching cryptocurrency trading in response to rising client demand.

\n\n\n\n

Earlier, JPMorgan Chase did not rule out support for digital assets at JPMorgan Chase.

\n\n\n\n

Subscribe to ForkLog news on Facebook.