Citigroup has created a digital asset division

June 25, 2021

Citigroup has created

Financial conglomerate Citigroup has announced the formation of a group to handle cryptocurrencies as part of its asset management venture Citi Global Wealth Investments, The Block reports.

"Given the exciting new developments we are seeing around cryptocurrencies, tokenisation and other advances based on blockchain technology, we are pleased to announce the formation of the Digital Assets Group," the publication quoted the memo as saying.

According to it, the group will work with other divisions of the group and its official partners to develop products.

Citigroup's head of currency operations, Itai Tuckman, said in May 2021 that the conglomerate was considering launching cryptocurrency trading in response to growing customer demand.

As a reminder, support for digital assets has not been ruled out at another major US financial holding company, JPMorgan Chase.

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