Banking News

Citi Beefs Up Digital Assets Business

Citi Beefs Up Digital Assets Business

(23 November 2021 – Global) Citi Bank has announced its intention to hire 100 staff to kickstart its digital assets division.

The enhanced team will be led by Puneet Singhvi, head of blockchain and digital assets at its global markets operation, and will be tasked with providing the bank with a strategic plan to enter the digital assets space, focusing on new products, clients, and investments.

The company first launched its digital assets division in June this year.

According to a report by Reuters the new team will be made up of both internal and external hires and be based across a number of international locations, including London, Tel Aviv, New York, and Singapore.

"Prior to offering any products and services, we are studying these markets, as well as the evolving regulatory landscape and associated risks, in order to meet our own regulatory frameworks and supervisory expectations," a Citi spokesperson told the newswire.

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