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Banking Giant Citigroup Is Preparing To Trade CME Bitcoin Futures
Summary: According to a report from Coindesk, people familiar with the cryptocurrency derivatives market said that Citigroup is preparing to trade CME Bitcoin futures. The source said Citigroup is actively hiring for its crypto-focused team and added: "The team is likely to win approval to begin trading CME Bitcoin futures first and then bitcoin exchange-traded notes [ETNs]." ...
According to a report from Coindesk, people familiar with the cryptocurrency derivatives market said that Citigroup is preparing to trade CME Bitcoin futures.
The source said Citigroup is actively hiring for its crypto-focused team and added: "The team is likely to win approval to begin trading CME Bitcoin futures first and then bitcoin exchange-traded notes [ETNs]."
A Citigroup spokesperson told CoinDesk that they need to be very cautious when launching such products because of regulatory issues, the spokesperson said: "We are presently considering products such as futures for some of our institutional clients, as these operate under strong regulatory frameworks."
In June, Citi's wealth management department established a digital asset group focusing on blockchain finance. According to the Financial Times, Citigroup was weighing whether to launch cryptocurrency trading and custody services in May 2021.
By Mary Liu
Tags: Bitcoin,Bitcoin Futures,Citigroup,CME
Link: Banking Giant Citigroup Is Preparing To Trade CME Bitcoin Futures [Copy]
