Itay Tuchman, Citi's global head of foreign exchange, told the FT the bank had not yet decided whether to offer clients cryptocurrency services but said a boom in interest across its client base prompted the bank to consider its options.
Trading, custody and financing are all services the bank is considering offering, Tuchman told the FT.
Other major financial institutions have also moved into crypto markets this year—including JPMorgan, BNY Mellon, Morgan Stanley and BlackRock—though Tuchman said he does not have any “FOMO,” short for “fear of missing out.”
Tuchman said the bank “will jump in” when it is confident in its ability to build something regulators can get behind and will benefit its clients.