American banking giant Citigroup is awaiting regulatory approval to enable clients to trade bitcoin futures on the Chicago Mercantile Exchange (CME).
According to the sources of Coindesk, the bank’s clients have noticeably increased interest in such products against the background of the rise in the bitcoin rate to $ 50,000. Citibank is also actively looking for specialists in the field of cryptocurrencies and cryptocurrency derivatives for its team in London.
“Most likely, Citi will first receive approval to launch Bitcoin futures trading, and then launch cryptocurrency exchange-traded bond (ETN) trading,” the source quoted the publication as saying.
Citigroup representatives assured that the bank is extremely cautious about the launch of cryptocurrency products and is working closely with regulators:
“We are now considering providing access to products such as futures for some of our institutional investors, as these products operate under strict regulatory oversight.”
Another major American bank, Goldman Sachs, provided clients with access to bitcoin derivatives back in May this year. In addition, the bank plans to launch similar products on the air.
Earlier it was reported that Citigroup is developing its own cryptocurrency platform that will allow you to store and trade digital assets.
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