Citigroup Becomes Latest Institution To Make Moves Into Crypto

Citigroup has finally put a toe into the crypto waters by leading a funding round in a Hong Kong-based asset management company. Accel, a Californian VC firm, is another backer. And Sandeep Nailwal, who co-founded the Polygon blockchain, has also contributed, along with a host of hedge funds. Xalts was co-founded by former Meta Asia executive Supreet Kaur, who serves as the company’s Chief Operating Officer, and Ashutosh Goel, a former trader at HSBC Holdings, who acts as Chief Investment Officer. In order to capitalize on what it sees as increased institutional investment in digital assets, Xalts said it is looking to launch multiple fund products linked to digital assets.