Financial institutions and companies that adopt cryptocurrencies at their various levels have become present almost on a daily basis, as addresses on the Bitcoin Arab website, which is interested and specialized in providing news and articles about encrypted digital currencies and the blockchain.

in a report Spread On Friday, the Financial Times indicated that the financial institution “Citigroup” is studying the possibility of launching cryptocurrency trading, custody and financing services.

Itai Tochman, Global Head of Foreign Exchange at Citigroup, said:

The bank has seen a very rapid build-up of interest in Bitcoin from large clients since last August.

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He added:

There are different options from our point of view as we consider where we can provide the best customer service.

This will not be prop-trading.

prop trading It occurs when a trader trades stocks, bonds, currencies, commodities, derivatives, or other financial instruments with the company’s own money, also known as a “nostro” account, as opposed to depositors’ money. prop trading Banks trade with their own money to make a profit.

It appears that Citi is in no hurry to launch crypto services.

In this regard, Mr. Tuchman stated:

The bank will launch when it is confident that it can build something that benefits customers and that regulators can support it.

I don’t have any FOMO projects [خوف من الضياع] Because I believe that cryptocurrency is here to stay and that we are at the beginning of the market.

This is not a space race.

There is room for more than just one flag.

In March, Citi published a report saying that Bitcoin could become an international trading currency as it developed.

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The bank said at the time:

Perceptions persist about what makes bitcoin important.

Bitcoin creates new opportunities and strives to become mainstream.

Citi is the latest Wall Street financial institution to consider moving into the crypto market.

In recent weeks, Goldman Sachs, Morgan Stanley, Bank of New York Mellon and others have moved to offer crypto services to their clients.

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