Business

Citi weighs launching cryptocurrency services after surge in client interest- FT By Reuters



© Reuters. FILE PHOTO: The Citigroup Inc (Citi) in Toronto, Ontario, Canada October 19, 2017. Picture taken October 19, 2017. REUTERS/Chris Helgren/File Photo

(Reuters) – Citigroup Inc (NYSE:) is weighing the option of providing cryptocurreny-related services after a surge in interest from clients, the Financial Times reported https://on.ft.com/33musLT on Friday.

The bank has not yet decided whether it will offer clients cryptocurrency-related services, but trading, custody and financing are all under consideration, the newspaper reported, citing Itay Tuchman, the bank’s global head of foreign exchange.

Citi has seen a “very rapid” accumulation of interest in bitcoin across a broad spectrum of clients including large asset managers, Tuchman told the FT, adding that the bank was in no rush to come to a decision on how deeply it should move into the cryptocurrency market.

Citigroup was not immediately available for a Reuters request for comment.

Bloomberg reported on Thursday that Goldman Sachs (NYSE:) was allowing Wall Street investors to trade with a derivative tied to bitcoin prices.

Reuters reported in March that Goldman Sachs had restarted its cryptocurrency trading desk and would begin dealing with bitcoin futures and non-deliverable forwards for clients.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

READ  Scotland vote set to trigger bout of shadow boxing over its future

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





READ SOURCE

Leave a Reply

This website uses cookies. By continuing to use this site, you accept our use of cookies.