Citi Bank to Hire 100 People Into Its Crypto Team

Citi Bank is on a hiring spree at present as it looks to be building a formidable crypto team. The bank is hoping to build out the team and work with other Citi Bank branches to identify and develop products and capabilities for digital assets. So in line with these hiring plans, the institution has appointed a new head of digital assets for its institutional client group (ICG).

Citi Bank Hiring For 100 Roles Across The ICG

Citi is hoping to fill up to 100 additional positions in its quest to support its digital asset capabilities across the ICG. However, this is not the first time the financial services giant is foraying into crypto.

Back in August, the financial institution was considering helping some of its institutional clients to trade bitcoin futures contracts on the Chicago Mercantile Exchange (CME).

Also in September, Citi led a $15 million Series A funding round for digital asset data company Amberdata. Most recently, CEO of Citigroup Jane Fraser told Yahoo Finance that digital assets would undoubtedly be a part of the future of financial services and markets.

More Developmental Changes At The ICG

According to a memo shared to colleagues by ICG’s head of business development Emily Turner, Puneet Singhvi will be joining the ICG’s business development team on December 1.

Turner noted in the memo how the ICG believes in the potentials of blockchain and digital assets. Also highlighted in the memo, is the importance of instant processing, being efficient, transparency, and fractionalization. Turner also mentioned how the present efforts in digital assets are only a continuation of ICG’s work with blockchain, and its consistent work with emerging technologies.

As explained in the memo, Singhvi’s last role was with the company’s global markets division. There he served as a head, leading many of Citi’s foundational steps in the blockchain and digital assets, including its collaborations with other major financial market infrastructure providers.

The other notable announcement contained in the memo is the appointment of Shobhit Maini and Vasant Viswanathan as the co-heads of blockchain and digital assets in Citi’s global markets division.