All banks will seriously consider crypto trading, says ex-Citigroup boss – Markets Insider

All banks will seriously consider crypto trading, says ex-Citigroup boss – Markets Insider


Vikram Pandit Citigroup CEO Orogen Group banker
Vikram Pandit led Citigroup from 2007 to 2012.

  • The big banks will soon be seriously considering jumping into crypto trading, a former Citigroup CEO said.
  • Vikram Pandit said the next one to three years will see major institutions get into the digital asset space.
  • Wall Street banks have been on a crypto hiring spree, even if many still doubt the value of digital assets.

All major banks will soon be seriously considering plunging into the world of cryptocurrency trading and selling, according to the former boss of banking giant Citigroup.

Vikram Pandit said that in “one to three years, every large bank and, or securities firm is going to actively think about ‘shouldn’t I also be trading and selling cryptocurrency assets’,” according to a report from Bloomberg, whose reporter Haslinda Amin interviewed the executive at the Singapore Fintech Festival.

The finance executive’s comments are the latest sign that the traditional banking industry is warming to cryptocurrencies, which have boomed in 2021. Pandit led Citigroup as CEO from 2007 to 2012 and has since co-founded tech-focused investment firm The Orogen Group.

A range of financial institutions and companies have been getting into the crypto space over the last year, including BlackRock, Mastercard, and BNY Mellon.

A recent analysis, first reported by Bloomberg, found that the biggest Wall Street banks have been on a major crypto hiring
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