The group will work with other divisions of the financial conglomerate to develop new products
Financial conglomerate Citigroup has announced the creation of a division focused on cryptocurrency and blockchain, according to The Block .
The new group was named Digital Assets Group, which will become part of the asset management division of Citi Global Wealth Investment.
The group will work in conjunction with other Citigroup divisions and its official partners.
In May, the head of the bank’s global currency department, Itai Takman, announced that the company was considering launching cryptocurrency services amid growing customer interest.
Takman stressed that he will offer such a service as soon as he is convinced of its safety, and will also receive support from financial regulators.
Last week, US bank Goldman Sachs partnered with Galaxy Digital to trade Bitcoin futures more actively. And digital asset management companies New York Digital Investment Group (NYDIG) and FS Investments have announced the creation of a Bitcoin fund that can only be used by Morgan Stanley customers.