According to industry analysts, Citigroup is collaborating with authorities to <a href="https://www.reuters.com/article/citi-futures-trading/citi-considering-bitcoin-futures-trading-for-some-institutional-clients-idUSL4N2PV3DG?rpc=401&amp;" target="_blank" rel="nofollow noopener">launch </a>Bitcoin futures trading. Representatives from Citigroup have previously <a href="https://www.cryptoknowmics.com/news/citigroup-inc-considering-launch-of-crypto-services-after-rise-in-demand/" target="_blank" rel="nofollow noopener">stated</a> that institutional interest in Bitcoin trading and custody services is increasing.
<h2>Citigroup Collaborating To Launch Bitcoin Futures Trading</h2>
The bank is believed to be dealing with an increase in client demand for cryptocurrency exposure as Bitcoin re-enters the $50,000 range. 

Citi would collaborate with sister megabank <a href="https://www.cryptoknowmics.com/news/adoption-of-blockchain-by-banking-sector/" target="_blank" rel="nofollow noopener">Goldman Sachs</a> to launch Bitcoin futures trading if the requisite regulatory licenses were obtained.

According to a second individual knowledgeable with Bitcoin derivatives markets, Citi is aggressively recruiting employees to join a crypto-focused team in London.
“The team is expected to get clearance to start trading CME Bitcoin futures first, followed by Bitcoin exchange-traded notes (ETNs).”
“Given the various concerns surrounding regulatory frameworks, supervisory expectations, and other factors,” a Citigroup representative explained. 
“We are now evaluating products like futures for some of our institutional clients since they operate under strict regulatory frameworks.”

<h2>Citi Establishes A 'Digital Assets Group' Under Its Wealth Management Division.</h2>
Citigroup's wealth management business has <a href="https://www.cryptoknowmics.com/news/citigroup-launches-a-digital-asset-unit-in-its-wealth-management-division/" target="_blank" rel="nofollow noopener">established </a>a Digital Assets Group.

The business will be managed by Alex Kriete and Greg Girasole of the bank's Citi Global Wealth Investments (CGWI) department, "focusing on all elements of this fast-growing sector of blockchain-enabled finance." 

Girasole's LinkedIn page portrays him as a "Blockchain enthusiast and Crypto Asset investor," and he has a 2018 certificate to prove it.
According to a memo signed by Citi's Iain Armitage, global head of capital markets, and Rob Jasminski, global head, “Alex and Greg will be responsible for advancing CGWI's efforts to become a market-leading partner for our clients interested in all aspects of the digital asset space,” including cryptocurrencies, non-fungible tokens (NFT), stablecoins, and central bank digital currencies (CBDC).
Citi's global head of foreign currency, Itay Tuchman, told the <a href="https://www.ft.com/content/d90ed3bf-2c8d-46c9-98b7-67859f6598e5" target="_blank" rel="nofollow noopener">Financial Times</a> in May that the firm has witnessed a "quite fast" increase in client interest in Bitcoin since August.

Citigroup Is Collaborating With Authorities to Launch Bitcoin Futures Trading

Citigroup collaborating with sister megabank Goldman Sachs to launch Bitcoin futures trading if the required regulatory approvals were obtained.

Kavya Barua is a voracious learner who is fascinated by crypto and Fintech advancements. Graduated from Janki Devi Memorial College's B.A (Hons) English program at the University of Delhi. She aspires to be a successful professional, having a keen interest in learning and achieving results.

Citigroup Is Collaborating With Authorities to Launch Bitcoin Futures Trading

Top Picks