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Citigroup Set to Employ 100 People For Its Crypto Division

Citigroup is looking to hire 100 people inorder to grow its digital asset team. Of course, this is within its institutional business. So, This is according to Bloomberg reports on Monday.

Furthermore, Puneet Singhvi will be the firm’s new head of digital assets within Citigroup institutional client group. Notably, Singhvi before heads the blockchain and digital assets within Citigroup trading business.

So, for his new role, he will report to Emily Turner. Of course, Emily oversees business development for the broader Citigroup.

More so, Turner explains in the memo to staff,

“We believe in the potential of blockchain and digital assets including the benefits of…”
“efficiency, instant processing, fractionalization, programmability, and transparency.”

“Puneet and team will focus on engaging with key internal…”
“and external stakeholders including clients, startups, and regulators,”

Additionally, They will provide expertise and a strategy for how different Citigroup businesses. Of course, which includes trading, securities services, investment banking. Then, treasury and trade solutions, how they will use blockchain and digital assets.

Furthermore, Citigroup confirms through an email statement,

“We are focused on assessing the needs of our clients in the digital asset space,”

Then, elaborates,

“Prior to offering any products and services, we are studying these markets,…”
“as well as the evolving regulatory landscape and associated risks in order to…”
“meet our own regulatory frameworks and supervisory expectations.”

Lastly, the statement confirms Shobhit Maini and Vasant Viswanathan as co-heads of blockchain and digital assets for Citigroup global markets business.

Then, They will report to Biswarup Chatterjee, head of innovation for that business.

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