All big banks will seriously consider starting crypto trading soon, says former Citigroup CEO Vikram Pandit

All big banks will seriously consider starting crypto trading soon, says former Citigroup CEO Vikram Pandit

All major banks will soon be seriously considering plunging into the world of cryptocurrency trading and selling, according to the former boss of banking giant Citigroup. Vikram Pandit said that in "one to three years, every large bank and, or securities firm is going to actively think about 'shouldn't I also be trading and selling cryptocurrency assets'," according to a report from , whose reporter Haslinda Amin interviewed the executive at the Singapore Fintech Festival. The finance executive's comments are the latest sign that the traditional banking industry is warming to cryptocurrencies, which have boomed in 2021. Pandit led Citigroup as CEO from 2007 to 2012 and has since co-founded tech-focused investment firm The Orogen Group. A range of financial institutions and companies have been getting into the crypto space over the last year, including , , and . A recent analysis, first reported by Bloomberg, found that the biggest Wall Street banks have been on a major crypto hiring spree, in a sign that the institutional adoption of digital assets could be about to kick into a higher gear. Goldman Sachs hired 82 crypto professionals, Wells Fargo took on 74, Fidelity recruited 68, and JPMorgan hired 63, data company