Us financial conglomerate Citigroup has developed a system of trade of virtual assets via the so-called receipts. According to Business Insider magazine, trade bitcoin clients Citigroup will not have the coins directly. The Bank stressed that such system complies with all legal standards.
This mechanism will reduce the risks of investors, because investment in digital assets still carry some risk for shareholders. Investor wishing to invest in digital money will need to purchase a Depository receipt that allows you to trade baskets of securities, presented on the us stock market. Themselves virtual assets will be hosted by the third party holder.
The representative of the financial conglomerate has not commented on the information about the development of a mechanism for trading bitcoins through receipts. Unknown launch date of the new system.
Citigroup is engaged in the issue of Depositary receipts in 1928. Recall that in his time the head of this financial giant Michael Corbat said that bitcoin threats push the state to launch regulated cryptocurrency.