Citigroup to recruit 100 more employees into a new division focused on digital assets.
Financial services giant Citigroup has appointed blockchain veteran Puneet Singhvi to lead the division whose primary focus will be serving institutional clients, according to a new Financial News report. The news included details detailing the role of the new unit:
“It will outline a clear strategy for where and how ICG [International Client Group] should pursue digital asset opportunities, including new products, new customers and new investments. ”
Emily Turner, head of business development at Citigroup, also used the following expressions, quoting from the document:
“We believe in the potential of blockchain and digital assets, including the benefits of efficiency, instant processing, fragmentation, programmability and transparency. Puneet and his team will focus on engaging with key internal and external stakeholders, including customers, startups and regulators. ”
The document states that the crypto division will recruit about 100 more new people.
The news comes after Citigroup CEO Jane Fraser said last month that she sees a place for cryptos within the traditional financial system:
“It is clear that digital assets will be a part of financial services and financial markets with a future. We see customers already very active in the field. We are building infrastructure for retail real-time payments. But we are being very careful because the field moves so fast. ”
