American multinational bank Citigroup inc is expecting authorization to start trading bitcoin futures contracts on the Chicago Mercantile Exchange (CME). This is according to a report by Coindesk citing an unnamed source within the bank.
The thirst to participate in cryptocurrency amongst Citigroup clients is on the rise and the financial institution is keen to satisfy them.
If the approval is granted, Citigroup will join the list of banks trading bitcoin futures.
According to the piece by Coindesk, the financial institution has begun the process to employ people with crypto knowledge.
A spokesperson for Citigroup confirmed to the cryptocurrency news platform that they are considering offering futures to institutional clients.