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.
The finance executive’s comments are the latest sign that the traditional banking industry is warming to cryptocurrencies. A recent analysis, first reported by Bloomberg, found that the biggest Wall Street banks have been on a major crypto hiring spree, in a sign that the institutional adoption of digital assets could be about to kick into a higher gear.
Goldman Sachs hired 82 crypto professionals, Wells Fargo took on 74, Fidelity recruited 68, and JPMorgan hired 63, data company Revelio found after scraping online jobs advert information.
Bloomberg reported that Pandit also spoke favorably of central bank digital currencies or CBDCs – a digital version of banknotes and coins that would let people hold and make payments in central bank money. He suggested it could make it easier and cheaper to move money around the world.
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Banking 4.0 – „how was the experience for you”
„So many people are coming here to Bucharest, people that I see and interact on linkedin and now I get the change to meet them in person. It was like being to the Football World Cup but this was the World Cup on linkedin in payments and open banking.”
Many more interesting quotes in the video below:
