Citi weighs launching cryptocurrency services after surge in client interest

After a surge in interest from clients, Citigroup Inc is weighing the option of providing cryptocurrency-related services.

Itay Tuchman, the bank’s global head of foreign exchange reported to the newspaper that the bank has not yet decided whether it will offer clients cryptocurrency-related services, but trading, custody and financing are all under consideration.

Tuchman told the FT that, including large asset managers, Citi has seen a very rapid accumulation of interest in bitcoin across a broad spectrum of clients.  He also added in his statement that the bank was in no rush to come to a decision on how deeply it should move into the cryptocurrency market.

Goldman Sachs was allowing Wall Street investors to trade with a derivative tied to bitcoin prices. In March, Goldman Sachs had restarted its cryptocurrency trading desk. It would begin dealing with bitcoin futures and non-deliverable forwards for clients.