Citi Executive Says Bitcoin Will Do Well But Sees Better Investments in ‘Gian...
Citibank’s David Bailin believes that bitcoin will do well because of the level of interest from investors. While stating that the cryptocurrency can be part of a portfolio, the executive sees better investment opportunities than bitcoin in “giant unstoppable trends.” Bitcoin ‘Is Going to Do Well,’ Citi Executive Predicts David Bailin is Managing Director and Chief Investment Officer (CIO) at Citi Private Bank, a subsidiary of Citigroup dedicated to serving wealthy individuals and families. He is listed on the Citibank website as a “wealth expert.”....
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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....
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....
While the euro has found support between 0.96 to 0.97 nominal U.S. dollars per unit, foreign exchange (FX) strategists from Citi believe the euro could tap a low of around $0.86 against the greenback. While the dollar slumped on October 13, the fiat currency is rising again and market strategists from Citi argue that the U.S. dollar “has likely not peaked yet.” Citi Market Analysts Suggest Euro Could Tap $0.93 — Financial Institution’s FX Strategists Say EU’s Currency May Slip to $0.86 if Economy Continues to Sour In recent times, the official fiat currency of 19 out of the 27....
American Express’ Amex Ventures, Visa, Citi Ventures, DRW Venture Capital, Jump Capital, Marshall Wace, Block (formerly Square Inc.), and Paypal Ventures are among investors in the latest funding round of crypto transaction monitoring and forensics platform TRM.
Amex, Visa, Citi, Paypal Invest in TRM Platform
Crypto transaction monitoring and forensics platform TRM announced Tuesday investments from major financial institutions in its Series B funding round.
The company has raised $60 billion from leading financial institutions, including American....