Well, Well, Well, Look Who Came Crawling Back (Banks Are Changing Their Tune on Crypto)

TL;DR

• The bigwigs at Citigroup lastly had the epiphany wanted to create an “always-on” blockchain-based cost service, that’s accessible 24/7.

• Citigroup has developed its personal non-public blockchain (owned and managed by the financial institution, so it could actually leverage crypto, with out giving up an excessive amount of management) that transforms clients’ deposits into ‘Citi Tokens.’

• And the cherry on prime? Shoppers gained’t have to arrange their very own digital pockets! As an alternative, they’ll be capable of entry the service by way of the financial institution’s current methods.

Full Story

Bear in mind when banks used to snort at crypto, saying it will by no means exchange the normal monetary system?

To that we are saying:

“Properly, nicely, nicely, look whose clients obtained bored with ready a whole weekend for his or her wire transfers to clear.”

Right here’s what we’re on about…

The bigwigs at Citigroup lastly had the epiphany wanted to create an “always-on” blockchain-based cost service, that’s accessible 24/7.

(Your favourite late-night pizza place can function across the clock, why can’t your financial institution?).

Citigroup has developed its personal non-public blockchain (owned and managed by the financial institution, so it could actually leverage crypto, with out giving up an excessive amount of management) that transforms clients’ deposits into ‘Citi Tokens.’

These tokens serve the identical goal as financial institution ensures and letters of credit score within the conventional monetary system.

And the cherry on prime?

Shoppers gained’t have to arrange their very own digital pockets! As an alternative, they’ll be capable of entry the service by way of the financial institution’s current methods.

Watching conventional monetary corporations enter crypto is type of like watching your dad attempt to skateboard – awkward, however you secretly hope he nails it.

(As a result of every entry brings us one step nearer to mass adoption).