Citibank ditches plans for its own cryptocurrency, bets on SWIFT instead

Citibank ditches plans for its own cryptocurrency, bets on SWIFT instead
фото показано с : thenextweb.com

2019-3-18 18:15

One of the world’s top 20 banks by asset value, is ditching plans to create its own digital asset – and abandoning all of its cryptocurrency experiments. Instead, it’s betting on a SWIFT. Citibank is not following in the footsteps of JP Morgan with the creation of its own cryptocurrency, believing there are better ways of making improvements to existing financial transaction systems, CoinDesk reports.

“Based on our learnings from that experiment we actually decided to make meaningful improvements in the existing rails,” said Citibank global head of innovations for treasury and trade solutions, Gulru Atak. “We are considering the…

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