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Vikram Pandit: all financial institutions to trade Bitcoin (BTC) and other cryptocurrencies in future

Mon 08 Nov 2021 ▪ 16h54 ▪ 2 min read — by Susan McCormack

Vikram Pandit, former CEO of Citigroup, one of the world’s largest international financial conglomerates, has stated that in the future, all financial institutions will trade Bitcoin and other digital assets.

What to expect?

U.Today reports that at the Singapore Fintech Festival Vikram Pandit, banker, investor, former Citigroup CEO and Chair at The Orogen Group, has stated that he expects all financial organisations to start trading digital assets and offer their clients exposure to the market in the near future.

Many financial institutions have just begun to study the crypto market, yet, Pandit is sure that in just a couple of years, the majority will join the crypto industry. Digital assets are gaining trust and support within investors. The news about the first Bitcoin ETF launch and BTC reclaiming the $66,000 level are only boosting the interest to the industry.

Pandit’s confidence in the digital asset future is supported by his actions. The banker actively invests in such crypto-related firms as Coinbase and Alchemy Insights. Pandit expects central banks to step in and partner with digital asset market players to develop CBDCs. The investor believes that digital currencies will help modernise the traditional banking system and make the exchange process easier.

Although most countries are still cautious about cryptocurrencies, some states are already working on introducing digital assets to their national economies. Back in September 2021, El Salvador became the first country to accept Bitcoin as a legal tender.

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Susan McCormack avatar
Susan McCormack

How many crypto nerds does it take to fork an altcoin? I may be a failed comedian, but crypto is no joke! I want to share my knowledge and help others to see the bright future ahead. #buybitcoin

DISCLAIMER

The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.

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