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Citi Bank Launches “Digital Asset Group” for Developing Crypto Products

by Miki 06/25/2021
by Miki 06/25/2021 0 comment

Citi group officially announced a “Digital Asset Group” launch in its wealth management department on Thursday.

citi bank

This new division will be led by Alex Kriete and Greg Girasole of the Citi Global Wealth Investment (CGWI) division. The establishment of the Digital Assets Group will make Citi the latest bank to set foot in the field of encrypted wealth management.

According to the memorandum signed by Iain Armitage, head of Citi’s global capital markets, and global head of Citi’s investment management Rob Jasminski, Kriete and Girasole‘s promotion will be responsible for leading the new department to provide digital assets such as cryptocurrencies, non-fungible tokens (NFT), stablecoins and central bank digital currencies (CBDC) the best market-leading partner for various assets.

Citigroup wrote in a signed memorandum:

“Given the exciting new developments we are seeing around cryptocurrencies, tokenization, and other advances powered by blockchain technology, we are pleased to announce the formation of the Digital Assets Group.”

The group said it would commit to the development of cryptocurrency and blockchain fields. In addition to Citibank, other well-known financial institutions, such as  Morgan Stanley and Goldman Sachs, have also launched their internal plans to scrambling for a piece of the action in the cryptocurrency market for their wealthy wealth management clients.

Earlier in May, Citi Group is planning to enter the crypto space. The multinational investment bank appears to be in the early stages as it has not decided on specific crypto services it would offer.

However, the bank is engaging in discussions regarding the roll-out of trading, financing, and custody of all crypto services.

Image source: Shutterstock

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The New Jersey Crypto News
  • Home
  • News
    • Bitcoin
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    • Ripple
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    • All Alt Coin
  • Learn
    • Learn

      How to Trade Futures Contracts on Changelly PRO

      11/14/2021

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      EtherLite (ETL) Cryptocurrency Price Prediction

      11/12/2021

      Learn

      How to Trade Bitcoin Futures

      11/12/2021

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      10/21/2021

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      10/13/2021

  • Analysis
    • Analysis

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      Analysis

      Sushi Up 17% Amid DeFi 2.0 Rescue Rumors

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      12/28/2021

      Analysis

      Charles Hoskinson Shares Cardano Plans for 2022

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      Analysis

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  • Blockchain
    • Blockchain

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