Bitcoin Bank Acceptance Spotlight: Citi
Citigroup, Inc., better known as just ‘Citi,’ is the 3rd largest US bank by assets, and the 13th largest in the world. Founded in 1812 and headquartered in Manhattan, Citi was one of the primary dealers of US Treasury securities up until the 2008 financial crisis. The recession took a heavy toll on the bank, requiring a bailout from the US government to....
Related News
The United Kingdom, is often one of the friendlier places when it comes to Bitcoin legality, especially when compared to US regulation, such as the New York BitLicense. Citi, a global banking and financial corporation, recommended that the UK take its acceptance one step further with the creation of a UK cryptocurrency. In a document submitted by Citi to the British government, Citi noted the risks involved with digital currency. However, Citi also mentioned the untapped possibilities that digital currencies like Bitcoin can offer:
Citi first hinted at its blockchain ambitions 10 days ago when it revealed it had developed its own cryptocurrency following years of research in the space. The so-called 'Citicoin' project from the world's eighth largest bank is the latest sign that financial institutions are starting to take blockchain technology seriously. Expect to hear much more about Citi's plans for digital currencies and blockchain tech this September when key executives from the bank speak at Consensus 2015. "Blockchain technology not only has an opportunity to transform financial services but also extend far....
International Business Times revealed that the global bank Citi is developing blockchains within the bank and test-coins to run across them. Ken Moore, head of Citi Innovation Labs, confirmed that the bank has been looking at distributed ledger technology for the last few years and has amassed a skilled team. They have built three blockchains and a test currency to run across them. Headquartered in Manhattan, Citi is an American multinational banking and financial services corporation. As of January 2015, it is the third-largest bank holding company in the United States by assets and has....
Citi has predicted that the total market for the metaverse economy could grow to between $8 trillion and $13 trillion by 2030. In addition, the global bank expects that the number of metaverse users could be as many as five billion.
The Metaverse Is Potentially an $8 Trillion to $13 Trillion Opportunity, Says Citi
Citi released a new Global Perspectives & Solutions (Citi GPS) report titled “Metaverse and Money: Decrypting the Future” Thursday. The leading global bank has approximately 200 million customer accounts and does business in more than 160 countries....
Bitcoin could be seeing the proverbial light at the end of the tunnel, at least that’s what a major American multinational investment bank is saying on its latest findings. Multiple evidence indicate that the liquidity crisis in the broader cryptocurrency markets may have seen the worst. This is the conclusion suggested by Citi Bank, in […]