Cryptocurrency Q&A
Why did Citi stop pursuing citicoin?
Why did Citi stop pursuing citicoin?
Thu Jan 09 2025
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I heard that Citi was exploring the idea of launching its own cryptocurrency called citicoin, but later they decided to abandon the project. I'm curious about the reasons behind their decision to stop pursuing citicoin.
6 answers
Sat Jan 11 2025
Gulru Atak, the leader of the innovation team, made an announcement in 2011.
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Sat Jan 11 2025
She revealed that Citi had decided to cease its pursuit of CitiCoin.
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Sat Jan 11 2025
According to Atak, the company would shift its focus to enhancing its current infrastructure.
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Sat Jan 11 2025
Despite the abandonment of CitiCoin, Atak emphasized that the bank remained committed to blockchain technology.
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Fri Jan 10 2025
She stressed that CitiCoin, although not coming to fruition, would not deter the bank from exploring blockchain further.
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