A Citigroup job ad suggests blockchain initiatives are heating up at the bank

JPMorgan's got JPMCoin. And Goldman Sachs has its "bitcoin" trading desk. 

But don't sleep on Citigroup. The New York-based financial services firm appears to be just as deep in the blockchain world as its cross-town rivals — at least according to a recent crypto job ad. 

As per a LinkedIn ad for a blockchain role, one unit of the bank — Citi Markets and Securities Services — is working on initiatives across the crypto landscape. 

"Citi Markets and Securities Services business is working on a number of Blockchain/ Distributed Ledger Technology (DLT) and Digital Asset initiatives that span asset classes, businesses and regions," the bank notes. The product manager position is no longer accepting applications (sorry hopefuls!). 

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The ad asserts that the bank has a wide-range of crypto clients, noting: 

"We are working with clients, Financial Market Infrastructures (FMIs) (i.e., exchanges, clearing houses, and settlement venues), and FinTech providers. These initiatives have continued to grow and are in various stages of the innovation and deployment funnel. We expect our engagement to continue to expand as Blockchain/DLT technology continues to evolve and will impact our business on multiple fronts."

The role would play a "key part" in driving "multiple internal and external engagements," according to Citigroup.

Still, a recent report by CoinDesk shows the bank stepped away from one notable crypto project, dubbed Citicoin. The JPMCoin-like project was never announced and was being worked on out of its Ireland offices.

Reporting by Frank Chaparro.

About Author

Frank Chaparro is Host of The Scoop podcast and Director of Special Projects. He also writes a biweekly newsletter. Chaparro started his career at Business Insider, where he specialized in the intersection of digital assets and Wall Street, market structure, and financial technology. Soon after joining Business Insider out of Fordham University, Chaparro was interviewing top finance and tech executives, including billionaire Mark Cuban, “Flash Boys” star Brad Katsuyama, Cboe Global Markets CEO Ed Tilly, and New York Stock Exchange President Tom Farley. In 2018, he become a sought after reporter in the crypto world, interviewing luminaries such as Tyler Winklevoss, the cofounder of Gemini, Jeremy Allaire, the CEO of Circle, and Fundstrat head Tom Lee. For inquiries or tips, email [email protected].