New york based Citi bank will offer crypto custody solutions to institutional investors, it will provide institutional investors to invest in cryptocurrencies in a fully insured and regulated manner.
This is a very good thing because it will encourage more banks to do the same thing and will create conditions for many governments to create lighter cryptos regulations. One of the things that makes governments take tough measures against bitcoin is because banks accuse bitcoin of being used for money laundering, used to fund terrorism and that has high volatility. but if banks look bitcoin in a positive way, then governments will look bitcoin in a positive way
Once institutional products hit the market and pension funds, hedge funds, and large-scale conglomerates take interest in cryptocurrencies as stores of value that are not dependent on the broader financial market, a large sum of capital will flow into the cryptocurrency market via custody solutions.
The future will be very good.