Vikram Pandit, former CEO of Citigroup, which is based in the USA and has $2 trillion assets under its management, interviewed Bloomberg reporter Haslinda Amin on cryptocurrency trading at the Singapore Fintech Festival event.
Pandit said he thinks major banks and financial institutions will soon join the cryptocurrency market.
“In one to three years, major banks and financial institutions will ask, ‘Shouldn’t I also be buying and selling crypto assets?’ she will think.”
The American investor stated that Wall Street giants have not accepted digital currencies for many years, but they are now getting closer to this market.
Stating that financial institutions are only trying to enter the digital asset market at the moment, Pandit continued his words by saying that Bitcoin exceeded $ 65,000 and the USA approved the first Bitcoin ETFs:
“Giant US banks such as JP Morgan, Bank of America, Goldman Sacshs are taking positive steps in the face of increasing demand for cryptocurrencies.
Goldman Sachs launches crypto futures. Also last week, the Commonwealth Bank of Australia said it will offer its customers the ability to buy, sell and hold crypto assets.”
The famous CEO said that his biggest wish is for central banks around the world to understand the benefit of a CBDC and accept them.
Pandit also stated that it is too costly and cumbersome to transport money around the world, and said that the existing banking system based on paper money will be modernized with the further implementation of digital currencies.
*Not investment advice.