Banking giant Citigroup accepts Handel’s bid for bitcoin futures

US banking giant Citigroup is awaiting approval to start trading bitcoin futures on the Chicago Mercantile Exchange.
American banking giant Citigroup is currently awaiting approval to begin trading bitcoin futures on the Chicago Mercantile Exchange, reported the agency CoinDesk today.

An anonymous source at the bank told CoinDesk that Citigroup is now facing decisively recent increases in bitcoin demand among its customers. If approved, Citi would join the ranks of Goldman Sachs and become the second-largest bank to offer bitcoin futures trading.
A second anonymous source told CoinDesk that Citi had hired people for a” crypto-focused ” team in London. A source said: “the team will get approval to start processing CME bitcoin futures first and then bitcoin exchange notes.”
A Citigroup spokesman wrote in an email to Coindesk:”given the many issues surrounding the regulatory framework, the expectations of supervisory authorities, and other factors, we are very careful with our approach.”
“We are currently looking at products such as futures as they operate under strict rules for some of our corporate clients.”
Citigroup, which is seeking approval for trading Bitcoin Futures, is the latest in a long line of conservative investment institutions to risk investing in bitcoin.
Wells Fargo and JPMorgan recently filed for passive bitcoin funds. Coinbase recently announced a partnership with Mitsubishi UFJ Financial Group (MUFG), one of Japan’s largest traditional banks, which will offer owners exclusive access to an exchange platform.
In July, Bank of New York Mellon (BNY Mellon) announced it would launch a new London cryptocurrency exchange called Pure Digital, the first major bitcoin trading platform backed by a consortium of major banks.
At the time, Jason Vitale, head of global foreign exchange at bny Mellon, spoke about the future of bitcoin in big traditional banks: “it’s about to become digital assets.

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