FAQs for Citibank Cryptocurrency Report

Can you buy cryptocurrency on Citi?

Citibank offers a large suite of Grayscale products, including Litecoin, Ethereum, and Bitcoin funds. The Grayscale funds are a good way to invest in cryptocurrencies and Bitcoin on Citi . Can You Buy Crypto on Citi?

What is Citi’s new crypto unit?

The unit will be part of the bank’s wealth management division Citi Global Wealth Investments, and focus on blockchain and crypto assets. Its aspects include cryptocurrencies, non-fungible tokens, stablecoins and central bank digital currencies, according to the memo.

Is Citi stepping up its approach to the crypto space?

Itay Tuchman, global head of foreign exchange at Citi had already come out and said that trading, custody and financing with cryptocurrencies was being considered by the bank. This was a sign that Citi was stepping up their approach to innovation, by joining the likes of BNY Mellon, JP Morgan or Morgan Stanley in the crypto space.

What do institutional investors want to know about cryptocurrency?

“The entrance of institutional investors has sparked confidence in cryptocurrency but there are still persistent issues that could limit widespread adoption,” Citi said. “For institutional investors, these include concerns over capital efficiency, insurance and custody, security, and ESG considerations from Bitcoin mining,” the bank added.

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