Citigroup is an American transnational financial services corporation established in 1812 and headquartered in New York. Citigroup is the fourth largest of the American banks and a systematically important bank for the U.S. and world economy. Citigroup’s revenue is currently more than $71.5 billion. Citibank is a part of Citigroup that specializes on consumer financial services. Some major Citibank branches are the American and Mexican branches, but Citi also has its branches in Russia, India, the UAE and some other countries. Citigroup’s blockchain research and development were some of the first in the banking and financial services sector. Citi and Nasdaq announced an agreement that implemented blockchain in global banking in May 2017. This agreement authorizes Citi to transfer funds into Nasdaq’s blockchain platform that is used for buying and selling shares of private companies.
The latest initiatives by the Monetary Authority of Singapore aim to develop foundational capabilities to scale tokenized markets.
Singapore introduces 5 new pilots to test asset tokenization
This week’s Crypto Biz explores SVB Capital bids, new funds from Blockchain Capital, the Hut 8-US Bitcoin merger and Citigroup’s private blockchain.
Crypto Biz: Bidding war for SVB Capital, new crypto funds and Citi’s private blockchain
The new blockchain-based service will use tokenized deposits for trading and liquidity services after two pilots.
Citi Token Services will provide payments, liquidity to institutional customers
The investment bank has downgraded Coinbase stock to “neutral" amid the exchange’s ongoing battle with United States regulators.
Coinbase stock will be ‘weighed down’ until US rules are clear: Citi
Bitcoin has decoupled from stocks and continues to rise 10 years after the Cyprus banking crisis coincided with a BTC price boom.
Bitcoin market cap grows 60% in 2023 as top Wall Street banks lose $100B
The message-system processes over five billion transactions a year and seeks to maintain its relevance by integrating disruptive technologies to its business.
SWIFT and Symbiont announce corporate data blockchain pilot
"Ultimately, the cryptocurrency may be liquidated if the collateral value falls below a certain threshold, such as 35% of the property value,” said the report.
Citi calls out potential risks of crypto-backed mortgages and benefits of metaverse property