Citibank recognized the importance of cryptocurrency as a new means of saving. The international banking giant Citibank said that the emergence and spread of cryptocurrencies have formed a new thinking regarding the payment infrastructure. In a recently published report for organizations on crypto payments, Citi analysts note that digital currencies are changing the paradigm of the entire payment ecosystem. The bank also stated that cryptocurrencies are a new means of saving. "Cryptocurrencies have turned from a little-known Internet novelty into a market with a capitalization of two trillion dollars. Regardless of whether cryptocurrency undermines the payment system as we know it, it has generated new thinking in payment infrastructure, processing and accounting, in addition to its increasingly widespread use as a means of saving," Citi noted. According to the bank, organizations that choose payments in cryptocurrency consider digital currencies as investments and a means of exchange. The report says that with the rise in the price of cryptocurrencies, interest has spread to corporations and other large organizations. A third-party agent model can be used for a company. In addition, the lender recommends that organizations use a direct model for obtaining cryptocurrency. However, Citi warns that this approach requires an advanced level of knowledge in the field of accounting and treasury. Citi is among the leading financial institutions showing interest in cryptocurrencies. In May, the bank announced that after receiving numerous requests from customers, it is considering the possibility of deploying services to support digital assets. At the end of August, the bank announced that it was considering the possibility of offering bitcoin futures to selected institutional clients. Recall that in November 2020, the director of Citibank predicted an increase in the price of bitcoin to $318,000, thanks to the consolidation of the status of digital gold. #Cryptocurrency
I guess some banks will do as well