{"id":53378,"date":"2021-11-23T13:38:36","date_gmt":"2021-11-23T11:38:36","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=53378"},"modified":"2025-09-03T14:53:37","modified_gmt":"2025-09-03T11:53:37","slug":"citigroup-to-launch-digital-assets-unit-for-institutional-clients","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/citigroup-to-launch-digital-assets-unit-for-institutional-clients\/","title":{"rendered":"Citigroup to Launch Digital Assets Unit for Institutional Clients"},"content":{"rendered":"<p>The financial conglomerate Citigroup announced the launch of a cryptocurrency-focused division within its Institutional Client Group. It will be led by Puneet Singhvi, the former head of the blockchain and digital assets in Global Markets.<\/p>\n<blockquote class=\"twitter-tweet\" data-conversation=\"none\">\n<p lang=\"en\" dir=\"ltr\">Total business for Citi\u2019s Institutional Client Group (ICG) was $550B in 2020. <\/p>\n<p>Puneet Singhvi will be tasked with hiring, prospecting and pursuing investments within the digital asset space.<\/p>\n<p>Via <a href=\"https:\/\/twitter.com\/strack_ben?ref_src=twsrc%5Etfw\">@strack_ben<\/a> <a href=\"https:\/\/t.co\/dOD4bP89F3\">https:\/\/t.co\/dOD4bP89F3<\/a><\/p>\n<p>\u2014 Blockworks (@Blockworks_) <a href=\"https:\/\/twitter.com\/Blockworks_\/status\/1462906707013783558?ref_src=twsrc%5Etfw\">November 22, 2021<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The unit will hire 100 specialists.<\/p>\n<p>Singhvi&#8217;s team will provide expert knowledge and shape a strategy for the use of blockchain and digital assets across units focused on trading, securities services, investment banking, as well as treasury and trading solutions. <em>\u00a0<\/em><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>&#8220;We believe in the potential of technology and digital assets. The new initiative continues our work in this space and aligns with our strategy to adopt new technologies&#8221;<\/em>, according to an internal memo to staff.<\/p>\n<\/blockquote>\n<p>Earlier reports indicated that Citigroup was preparing to enter the bitcoin futures market.<\/p>\n<p>In June the financial conglomerate <a href=\"https:\/\/forklog.com\/en\/news\/citigroup-forms-digital-assets-unit\">announced<\/a> the creation of a group to work with digital currencies within Citi Global Wealth Investments&#8217; asset-management division.<\/p>\n<p>In May, Citigroup&#8217;s head of FX operations Itay Takman said that the bank <a href=\"https:\/\/forklog.com\/en\/news\/citigroup-does-not-rule-out-launching-bitcoin-trading-and-custody-services\">are considering launching services<\/a> for the trading and custody of cryptocurrencies.<\/p>\n<p>Earlier the institution <a href=\"https:\/\/forklog.com\/en\/news\/citigroup-led-15-million-series-a-round-for-amberdata\">led<\/a> an investment round for Amberdata. The firm provides data on blockchains, cryptocurrencies and the DeFi sector, which are used for research, trading, risk assessment, analytics, reporting and compliance.<\/p>\n<p>Follow ForkLog news on <a href=\"https:\/\/twitter.com\/ForkLog\" target=\"_blank\" rel=\"nofollow noopener\">Twitter<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The financial conglomerate Citigroup announced the launch of a cryptocurrency-focused division within its Institutional Client Group. It will be led by Puneet Singhvi, the former head of the blockchain and digital assets in Global Markets.<\/p>\n","protected":false},"author":1,"featured_media":53379,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1798,1269,1156],"class_list":["post-53378","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-citigroup","tag-cryptocurrencies","tag-institutional-investors-and-whales"],"aioseo_notices":[],"amp_enabled":true,"views":"23","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/53378","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=53378"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/53378\/revisions"}],"predecessor-version":[{"id":53380,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/53378\/revisions\/53380"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/53379"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=53378"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=53378"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=53378"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}