CitiGroup is an American multinational investment bank and financial services company headquartered in New York City. It was founded in 1812 as the City Bank of New York, later First National City Bank of New York. As of December 2019, CitiGroup had $2 trillion in assets and 200 million customer accounts across 160 countries and jurisdictions worldwide.
The company offers a range of banking products such as consumer banking, corporate banking, investment banking, private equity investments, wealth management services as well as insurance products for both retail customers and businesses around the world. Additionally it also provides online trading platforms for customers to trade stocks & shares etc., loans (mortgage/personal loan) facilities & credit cards with attractive interest rates along with other consumer related financial products like debit card payments or deposits into savings account from any part of the world.
In terms of cryptocurrency involvement CitiGroup has been actively involved by providing access to digital solutions through its subsidiaries Citibank N A , Citigroup Global Markets Inc and their affiliates including introducing Digital Asset Receipts (DARS). This product enables clients to hold Bitcoin on behalf exchanges without taking physical delivery but instead holding them electronically within a custodial exchange service provider which securely stores cryptocurrencies using cold storage wallets. Furthermore they have introduced new token issuance technology that allows companies to raise capital via Initial Coin Offerings which are often seen as an alternative way to traditional forms financing such IPO’s or venture funding rounds . They offer this solution through their subsidiary known at ‘Citigateway Tokenisation Platform’ where firms can issue tokens directly onto public blockchain networks thus enabling them to be traded publicly creating liquidity for investors all over the world who have previously not been able access these type securities before due lack availability locally .
Finally CitiGroup has also announced plans release own form cryptocurrency backed stable coin know called ‘Citicoin’ however no further updates been made since original announcement 2018 so currently there still remains doubt about whether project will make it market time being .
