Citigroup is seeking to establish 100 roles targeted at digital assets, including blockchain and digital currencies, at its institutional unit.
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The program is the latest move by banks seeking to identify ways to capitalize on the surging crypto industry that has been gaining mainstream acceptance and regulatory scrutiny.
Puneet Singhvi, Citi’s head of blockchain and digital assets, stated that it would lead a new team.
The new team will include a combination of internal and external recruits and be headquartered in Singapore, New York, London, and Tel Aviv. Singhvi further stated that hiring is expected to finalize by the close of 2022.
In the Asian market, DBS Group is growing its cryptocurrency trading platform.
Citi’s new team will take part in product development and project management while mentioning strategies to develop digital asset opportunities.