Citi Group Will Develop Cryptocurrency Digital Asset Receipt Products

Citi Group anonymous newsYue 9 s1, told Business Insider, US multinational bank Citigroup is developing an encryption currency products so that institutional investors can directly enter the encryption market, without the need for direct ownership of encryption currency.

According to reports, Citigroup had been taken to focus on ways to encrypt money, will use American Depositary Receipts ( ADR ) in the revised version 20 Century 20 representatives since the company’s issuance of securities of non-US securities let investment Indirect transaction encryption.

According to sources, the final product will be called the Digital Asset Receipt ( DAR ).

According to the “ people who understand the plan”, DAR “ like “ADR, ” “ all American investors have a way to own foreign stocks that are not traded on the US exchange. 

“ Foreign stocks are held by banks, and banks subsequently issue depositary receipts. In this case, the cryptocurrency is held by the custodian and DAR is issued by Citigroup, ” Business Insider explained.

The article did not mention the timetable for the launch of the plan, and Citigroup declined to comment.

As we reported yesterday than push, Yue on the Citi Group regulatory agency of the US Securities and Exchange Commission ( SEC ) announced the first encryption-related exchange-traded note ( ETN ) magistrate’s temporary ban.

At the same time, more than Bitcoin and Ethernet Square exchange-traded fund ( ETF ) fate remains a hot topic, the US Securities and Exchange Commission on Yuefen rejected a series of Bitcoin ETF application.

[su_quote]This article is writing on 12 Sept 2018 based on information available online & news portal. If you feel it’s outdated or incorrect, please write here to update it. Mail us: [email protected] Or Whatsapp Us- +13098896258[/su_quote]

Latest Posts


Stay in touch

To be updated with all the latest news, offers and special announcements.