Every major financial institution will be thinking about trading cryptocurrencies within the next few years, according to Vikram Pandit, chairman of The Orogen Group and former chief executive officer of Citigroup Inc. Speaking at the Singapore Fintech Festival event, Pandit told Bloomberg that in “one to three years, every large bank and/or securities firm is going to actively think about ‘shouldn’t I also be trading and selling cryptocurrency assets?'” Pandit’s comments come after multiple financial institutions have tapped into the cryptocurrency industry. JPMorgan Chase & Co. in August started giving its wealth management clients access to six crypto funds, CNBC reported. Meanwhile, Bank of America lats month announced it has launched digital asset research to “explore the implications across industries including finance, technology, supply chains, social media, and gaming,” while noting that “digital assets are transforming the way in which markets, businesses, and central banks operate.” The Commonwealth Bank of Australia (CBA) last week also said it will offer customers …
Every Major Financial Institution Will Think About Trading Cryptocurrencies Within Next 3 Years: Former Citigroup CEO
November 9, 2021
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