All big banks will start considering investing in cryptocurrencies, according to Vikram Pandit the former boss of banking giant Citigroup.
Pandit said that in “one to three years, every large bank and, or securities firm is going to actively think about ‘shouldn’t I also be trading and selling cryptocurrency assets’,” according to a report from Bloomberg, whose reporter Haslinda Amin interviewed the executive at the Singapore Fintech Festival.
Pandit’s comments might suggest that traditional banking is giving up on Bitcoin adoption. The finance executive served as CEO of Citigroup from 2007 to 2012 before co-founding tech-focused investment firm the Orogen Group.
For instance, several financial institutions and companies have been adopting Bitcoin and cryptocurrencies over the last year including Tesla, BlackRock, BNY Mellon, and Mastercard.
According to an analysis reported by Bloomberg, the largest Wall Street banks have been hiring crypto specialists implicating that more institutions are adopting digital currencies.
