Tag: Citigroup

Citigroup Lists Multiple Job Openings for Certified Bitcoin Professionals

Even though the public’s interest in cryptocurrency has not slowed down in the slightest, there are still risks associated with it. Citigroup acknowledges the potential impact of Bitcoin, yet it aims to gain a better understanding of this new form of money. As such, the company is looking to hire people with a “Bitcoin Professional Certification”. A Positive Move by Citigroup If previous years were any indication, the financial sector will not adopt …
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Citigroup Exits Developing Markets By Spinning Off Consumer Businesses

For banks and other financial institutions to remain profitable during these challenging economic times, they have to cut their losses at every possible turn. For Citigroup, that means selling off its consumer business in developing countries, such as Brazil and Argentina. The reason for this is simple: these regions bring down the overall profitability of the bank. Shareholders must be pleased, after all, as clients in those countries are only …
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Major Banks Trial Credit-Default Swaps Blockchain Trading System

Several large financial institutions (JP Morgan, Citigroup, Bank of America, Credit Suisse Group) have participated in a blockchain trial involving credit-default swaps (CDS) derivative contracts. The CDS contracts became well-known after the 2008 financial crisis, when the instruments were widely-used by banks and investment firms to gain exposure to the mortgage backed securities (MBSs) market. According to a WSJ article, the experiment revealed that a certain portion of the clearing …
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