Crypto Mass Adoption: Citi Bank Considers Launching Trading And Custody Services

The mass adoption of crypto is still going strong, and more moves are made on a daily basis that are supporting this enormous goal that the crypto industry has set.

Check out the latest move made by Citi Bank.

Citi Bank to launch crypto services

It’s been just revealed that the banking giant Citigroup considers launching crypto trading, custody, and financing services.

Itay Tuchman, Citi’s global head of foreign exchange, told the Financial Times in a report that was published Friday that the bank had seen a “very rapid” accumulation of interest in BTC from large clients since last August.

“There are different options from our perspective and we are considering where we can best service clients. This is not going to be a prop-trading effort,” said Tuchman; he was referring to proprietary trading in which banks trade with their own money to make a profit.

The Block Crypto reported that Citi is not rushing to launch crypto services.

Tuchman said the bank would jump in only when it is confident that it can build something that benefits clients and that regulators can support.

“I don’t have any FOMO [fear of missing out] because I believe that crypto is here to stay and that we are just at the very beginning of the market,” he said.

He continued and said, “This isn’t a space race. There is room for more than just one flag.”

BTC to become an international trade currency

Just to refresh your memory, back in March, Citi published a report in which they were claiming that BTC could become “an international trade currency” as it evolves.

Back then, the bank continued and said: “Perceptions about what makes bitcoin important continue to evolve and create new opportunities while increasing its perception towards becoming mainstream.”

Check out the complete notes published by the online publication mentioned above.

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