American financial conglomerate Citigroup develops, perhaps the most direct method of investing in cryptocurrencies without having to own them, told Business Insider familiar with the situation sources.

The tool is called the notes for the digital asset (DAR). In many ways, the principles of his work are reminiscent of American Depositary receipt (ADR), which has been around for several decades and allows investors in the US invest their money in foreign stocks that are not traded in their home exchanges. In this case, the Bank holds a share, giving the investor Depositary receipt.

The new tool involves the storage of crypto-currencies custodial services and issue DAR Citigroup, the sources said. After the release of receipts the Bank will notify the Depository trust and clearing Corporation, which performs the function of a mediator on wall street, providing services to clearing and settlement. This makes the proposed tool more full and allows investors to monitor their investments with a system with which they are already familiar, the source added.

According to him, the project is a common initiative of teams Bank on the establishment deliveries in the capital markets and services Depositary receipts. At what stage are DAR Citigroup and when they are launched is unknown, but sources report that the Bank is already negotiating with potential partners.

Citigroup is one of the largest issuers of ADR in the world. The Bank began to issue Depositary receipts in 1928 and has received several awards for their proposal, it said on its website.

Unlike some other large companies on wall street, Citigroup refrain from admission of its clients in the cryptocurrency market. Among other things, he did not immediately to deal with the clearing of futures on bitcoin and banned to use their credit cards to buy cryptocurrency.

At the same time, the Bank expanded the staff in this area. According to the posted this year vacancies on LinkedIn, he was looking for a Vice President and senior Vice President at the risks of money laundering using bitcoin and other new payment technologies.

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