Citibank is offering crypto custody.

[nakarp]

good news for all people

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[semes]

CitiBank also had operations in my country for a while. They are in doubtful loss. Obviously they do not give me much confidence.

[cizatext]

This is a good attitude towards cryptocurrency and this development is going to further straighten the bound between the banking system and cryptocurrency. I believe in a short period from now other financial institutions are going to also take advantage of the potentials that are imbedded in cryptocurrency and the ecosystem entirely.

[Ciscopro2000]

That is great news!  Hopefully more banks and financial instutions will do the same.  I hope crypto will soon become more mainstream and we can talk about the crypto currencies just like any other forms of currencies in the market today. 

[GreatArkansas]

This could be the big impact to the crypto community, it is really amazing that crypto keeps growing. They should offer crypto for their consumer, because crypto is really helpful for individual, it will help you in your daily lives.

[pakhitheboss]

WOW!!

So it has started, This is both Good and Bad for Crypto world.

Good - New money, Boosting investor confidence and Adoption of Cryptocurrency will be coming to the market.
Bad - You can expect Market Regulation and slowly control over Cryptoworld .

I may be wrong about it..but this is what I feel.

[dimbaba]

I hope crypto will soon become more mainstream and we can talk about the crypto currencies.Maybe we can see bloodbath right now in the market but let's look in the long term.

[aoluain]

WOW!!

So it has started, This is both Good and Bad for Crypto world.

Good - New money, Boosting investor confidence and Adoption of Cryptocurrency will be coming to the market.
Bad - You can expect Market Regulation and slowly control over Cryptoworld .

I may be wrong about it..but this is what I feel.

I agree on the good and bad points.
If anything this news shows that there is a lot of interest in bitcoin as an investment.
Im not sure what the future holds for these bitcoin investment products and this
road to regulation of some sort and which some are not too bothered with.
Hmmm more food for thought.

[cellard]

WOW!!

So it has started, This is both Good and Bad for Crypto world.

Good - New money, Boosting investor confidence and Adoption of Cryptocurrency will be coming to the market.
Bad - You can expect Market Regulation and slowly control over Cryptoworld .

I may be wrong about it..but this is what I feel.

This is nothing new. Actually Xapo has been offering a god damn underground bunker somewhere in an undisclosed location, claiming that it's safe and will keep the funds in cold storage with several layers of protection.

Im not sure if this is only aimed at individuals or institutions could apply too. I don't see why not. At the end of the day it's all the same, you just have to keep wallets safe, it's always the same procedure no matter who is on the other end, or at least that's how it should be. If I had a business on that field I wouldn't make distinctions between an average random guy and an institutions, you must pull maximum effort into keeping everyone's money safe.

I had big hopes with Xapo's service but im a bit disappointed with Wences being part of the segwit2x nonsense back then, I hope these guys don't support further forks in the future.

[xWolfx]

New york based Citi bank will offer crypto custody solutions to institutional investors, it will provide institutional investors to invest in cryptocurrencies in a fully insured and regulated manner.  Link : https://www.ccn.com/citigroup-is-the-latest-bank-to-offer-crypto-custody-heres-how-it-will-affect-the-market/

Those are interesting news. That one bank is willing to do that in a so short time period indicates a bright future for the currency itself and we can expect this kind of actions to only increase later.

The question is, how many banks will follow and how many will attempt to resist?

Another interesting thing is to see how much security those banks can have while watching over Bitcoin. Let's see, i'm curious.

[cryptodalton]

I consider this to be a major in addition to. Individuals can bite the dust gently now. Went to the Bank, composed an announcement of legacy. furthermore, can be to bite the dust ) This joke obviously, yet on certainty Citibank can help extensive number of individuals in this issue

[Pakwan12]

It's a great news that city bank is interested by cryptocurren that a great move off this bank hoping that other bank will be start also  enter in crypto world.

[figmentofmyass]

If they screw up (in this case Citiybank) then holders will have someone to blame and get their money back, probably with a fee on Citybank because big players can force favorable rules. So the custodian gets paid a decent amount an they have an incentive to do well because otherwise they are fucked.

i'm not so sure. it'll be a while before we get the details on this, but it'll probably be like ETFs. language about high risk, trustee losses may be irreversible, etc. i'm still amazed at the idea of high volume bitcoin insurance for these kinds of trusts. i'd love to get a look at the premiums. when something goes wrong (trustee gets hacked or something), it'll make for an interesting and precedent-setting court case.

I don't see anything wrong with this. Let people choose to hold their own coins or pay someone else to do the task for them. As you said the point of bitcoin is to hold it yourself but as you also said we can not avoid this and we shouldn't even bother.

it's unavoidable. just saying, it's certainly not a good thing. a lot of people are going to get fucked by custodial losses st some point.

[oanhphong]

More good news for Bitcoin, I realized that many banks already know how to exploit electronic money for their payments and make them more profitable.

[pretius99]

very good information, hopefully with this insured investment, it can boost the price of bitcoin because its security is very guaranteed in terms of crypto storage

[Eatund79]

This is a good news for us. because if the ETF gets rejected, and the chances are that it will again, we will have a backup now. This might also encourage other banks to follow suit too.

[GreotDollyce]

It’s a great news. This type of support is really good for the users. It’s a positive indication to crypto world. Hope it last till the end and increase the amount of crypto users

[131tc01n]

the news is good enough to pump bitcoin, but this news is still lacking, we need big news that might be heard by all citizens of the world like late last year and it makes the bitcoin pump even bigger.
I hope to hear good news like last year he was late this year, I still hold my crypto assett

[Tatsuyashiba]

New york based Citi bank will offer crypto custody solutions to institutional investors, it will provide institutional investors to invest in cryptocurrencies in a fully insured and regulated manner.  Link : https://www.ccn.com/citigroup-is-the-latest-bank-to-offer-crypto-custody-heres-how-it-will-affect-the-market/

good news for the future and hopefully many banks will start similar steps to advance cryptocurrency, we can only wait for the time when things will happen. hopefully in the near future

[TurveyDrop]

This is a good news indeed. Not only are there more and more participation from the commercial side of the market but this might play a part in bringing the price of the coins up.