U.S. financial services firm Citi considers offering Bitcoin services following a flood of interest from its clients. The firm is one of many banks that has warmed to cryptocurrency in recent times.
Although Citi has only signaled an interest at this time, a new custody initiative backed by Fidelity could soon see hundreds of U.S. banks offering Bitcoin services. And rather significantly from an adoption standpoint, not just for institutional players or high net worth individuals.
Citi Ready For A Bitcoin Explosion
Citi’s Global Head of Foreign Exchange, Itay Tuchman, said the company is thinking about entering the Bitcoin market. Despite the less than sound reputation of crypto, mounting interest in Bitcoin from asset managers and hedge funds has forced Citi into considering the move.