Citigroup announced on Tuesday that it would create 100 job vacancies to focus on digital assets as more institutions adopt cryptocurrencies.
The multi-national investment bank says that the new team would have internal and external hires based in Singapore, London, New York, and Tel Aviv. The hiring is to end by the end of next year.
The US Investment bank has appointed Puneet Singhvi, its blockchain and digital assets head, to lead the team.
The role of Citi’s new team would be in project management, product development, and formulating a strategy on digital asset opportunities.
Citigroup says that it is studying the crypto market to ascertain the scope of the regulatory landscape and the risks involved.
The bank’s move comes amid a wider adoption of crypto by traditional financial institutions. Goldman Sachs created a crypto trading team, while the Bank of America started a cryptocurrency research unit.