Citibank to Build Digital Currency Division

Citibank has been looking into the new crypto craze and crypto adoption. It is a good time to be working in cryptocurrency. Blockchain developers are in extreme demand and the number of jobs available continues to grow.

LinkedIn posted last year that the best skill to have in the job market was in blockchain. Since then, they have released multiple reports regarding the number of available jobs in the market for those knowledgeable in blockchain.

Citibank is the latest bank to add to these job openings as they have now listed around 100 new jobs for its new blockchain and digital currency department. This new department is aimed at its business clients with the goal to create a way for customers to participate in the digital currency market.

This new department will have a focus on extreme research into digital assets that have been in high client demand. This research will focus on the quality of the cryptocurrency as well as the regulations and risks each digital asset has.

The huge push for cryptocurrency adoption over the last few years was originally met with pushback from traditional banks. Many of them stopped their customers and business clients from speculating on digital assets. Some customers with major banks saw their accounts get frozen when trying to interact with trading platforms. But Citibank has decided to move forward with crypto.

Banks now look as though they have thrown in the towel and decided to follow the crowd and join the digital currency movement, but with some skepticism. Recently a post was made on Reddit by a user who claimed a bank had indeed frozen all their accounts. they stated that until they called customer support and answered a survey then it would remain frozen. The survey included questions about their research into digital currencies and if they were aware of the risks associated with investing. 

Despite the pushback to customers, many banks now are offering jobs to those with blockchain experience. Banks including Bank of America and Wells Fargo, amongst many others, have been seen with job listings looking for Ethereum development skills. These job openings are very lucrative and offer great salaries to those with the skills.

Many speculate that all bank accounts will have a crypto wallet included with them alongside checking and savings accounts. While a lot of crypto enthusiasts will stay far away from allowing banks to control their digital assets.

Banks getting involved only further pushes digital asset legitimacy and will bring a greater number of cryptocurrency holders around the world.

If you want to stay safe when using your crypto funds, we recommend sticking to trusted and established casinos such as 1xBit, Bitcasino, and FortuneJack.


Updated: 11/25/2021 — 15:00

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