Citigroup to trade bitcoin futures to address clients interest in crypto

Citigroup will offer bitcoin futures trading to its institutional clients who are increasingly interested in cryptocurrency.

It is awaiting regulatory approval to offer the product. .

In May, Citigroup was reported to contemplating launching crypto services due to a “very rapid” accumulation of interest in bitcoin among clients, including large asset managers.

The bank was later reported to have established a digital assets group within its wealth management unit.

Citigroup CEO Jane Fraser stated that the bank was taking a measured approach to cryptocurrency as it sought to understand changes in the digital asset space.

The bank was also studying the use of distributed ledger technology, demand, and interest by their clients in cryptocurrency, regulatory developments, and technological advancements.