Citigroup Launches Crypto Unit and Seeks Blockchain Specialists

One of Wall Street’s largest banks, Citigroup, has launched a new crypto and blockchain-focused business area called Citi Global Wealth Investments and is even already looking for a Product Manager specializing in DLT technology to lead that area.

His new group Digital Asset Group will be located within his wealth management Citi Global Wealth Investments and will be led by Alex Kriete and Greg Girasole, who will focus on gaining market among cryptocurrency users, according to their note:

“Given the exciting new developments we are seeing around cryptocurrencies, tokenization, and other advancements driven by blockchain technology, we are pleased to announce the formation of the Digital Assets Group.”

Citigroup had planned a crypto-focused area since last May and is now the latest financial institution to join the crypto market., behind Goldman Sachs, BNY Mellon and State Street.

Cryptocurrencies enhance the value proposition of major banks

The financial industry is enthusiastic about offering digital assets to its clients, mainly functional capital market partners. Morgan Stanley argued in March that digital assets are close to establishing themselves as investable assets.

JP Morgan Bitcoin

JP Morgan Bitcoin

Citigroup is also looking for a Product Manager for its Digital Assets area and the person in charge must have extensive experience in DLT technology. (market structure) to work with partners in identifying and executing initiatives with Fintech, private banking, security services, TTS and BCMA.

In addition, the Product Manager must create a strategic investment plan for eventual associations and financing projects, as well as participate in dialogues and regulatory developments with representatives of companies that operate digital currencies.

In May, Itay Tuchman, a Citigroup executive, told the Financial Times that he was exploring entering the crypto market, but at that time “had not yet decided whether to offer its clients services related to cryptocurrencies.”

The post Citigroup launches crypto unit and searches for people specializing in blockchain was first seen on BeInCrypto.

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