December 4, 2021

Citigroup announced the launch of the cryptocurrency division

Citigroup announced the launch of the cryptocurrency division

Financial conglomerate Citigroup announced the launch of a crypto-focused unit within Institutional Client Service Groups. It will be led by Punit Singvi, ex-head of blockchain and digital assets towards global markets.

100 specialists will be hired to work in the new business unit.

Singvi's team will provide expert knowledge andwill form a strategy for the use of blockchain and digital assets of divisions focused on trade, securities services, investment banking, as well as treasury and trading solutions.

“We believe in the potential of technology and digitalassets. The new initiative continues our work in this space and aligns with our strategy to introduce new technologies, ”says an internal memo to employees.

In August, the media became aware of Citigroup's preparations for entering the bitcoin futures market.

In June, the financial conglomerate announced the formation of a digital currency group within the asset management division of Citi Global Wealth Investments.

In May, Citigroup's head of foreign exchange operations, Itai Takman, said that the bank is considering the possibility of launching services for the trading and storage of cryptocurrencies.

Previously, the institution led the investment round forAmberdata. The firm provides data on blockchains, cryptocurrencies and the DeFi sector that is used for research, trading, risk assessment, analytics, reporting, and compliance.

Where is it more profitable to buy cryptocurrency? TOP-5 exchanges

For a safe and convenient purchase of cryptocurrencies with a minimum commission, we have prepared a rating of the most reliable and popular cryptocurrency exchanges that support deposit and withdrawal of funds in rubles, hryvnias, dollars and euros.

Site reliability is primarily determined bytrading volume and number of users. By all key metrics, Binance is the largest cryptocurrency exchange in the world. Binance is also the most popular cryptocurrency exchange in Russia and the CIS, since it has the largest turnover of funds and supports transfers in rubles from bank cards Visa / MasterCard and payment systems QIWI, Advcash, Payeer.

Especially for beginners, we have prepared a detailed guide: How to buy bitcoin on a crypto exchange for rubles?

Rating of cryptocurrency exchanges:

# Exchange: Website: Rating:
1 Binance (Editor's Choice) 9.7
2 Huobi 7.4
3 Exmo 6.9
4 OKEx 6.5
5 Bybit 6.3

The criteria by which the rating is set in our rating of crypto-exchanges:

  • Work reliability - stability of access to all platform functions, including uninterrupted trading, deposit and withdrawal of funds, as well as the period of work on the market and the daily trading volume.
  • Commissions - the size of the commission for trading operations within the site and the withdrawal of assets.
  • Additional features and services - futures, options, staking, NFT marketplace.
  • Feedback and support - we analyze user reviews and the quality of technical support.
  • Convenience of the interface - we evaluate the functionality and intuitiveness of the interface, possible errors and failures when working with the exchange.
  • final grade - the average number of points for all indicators, determines the place in the rating.

Citigroup announced the launch of the cryptocurrency division

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