Citigroup Pending Approval For Bitcoin Transactions

Citigroup pending approval for Bitcoin transactions. The company is working quickly on the subject.

US banking giant Citigroup is awaiting approval from regulators to trade Bitcoin futures contracts traded on the CME. Speaking to CoinDesk, a source inside the bank stated that he is waiting for approval to start trading first on Bitcoin futures contracts and then on investment bonds on the Bitcoin-based exchange. Citigroup is creating a team in London to work on cryptocurrency and is actively conducting a recruitment process for that team. Citigroup will begin by offering futures products to some institutional customers. Citigroup, one of the leading banks in the USA, has approximately $ 24 trillion in assets stored on behalf of customers. The company created a cryptocurrency-focused unit in June to offer products related to cryptocurrencies. In May, news emerged that the bank was planning to provide cryptocurrency trading and custody services. The bank's manager, Itay Tuchman, said that since last year, they have received serious requests from customers to invest in Bitcoin.