Citigroup develops tool for the purchase of cryptocurrencies

The US financial giant developed Digital Asset Receipt, a tool that allows customers to acquire digital assets

In order to reduce the risks to which investors are exposed in cryptocurrencies, the US Citigroup consortium has developed the tool called Digital Asset Receipt.

Although the date of the launch is not yet known, it is clear that once investors have this ally they will be able to buy digital assets without having them.

In the development of this innovative financial security instrument, experts from the banking giant of New York participated, who still have to wait for the regulatory framework and the specifications of the Securities and Exchange Commission.

The DAR allows investors in the United States to acquire foreign shares that are not traded in domestic exchanges. In transactions, the bank acts as custodian, while investors issue a deposit receipt.

The operation is as follows: once Citigroup issues the receipt, the Depository Trust & Clearing Corp clearing and settlement services firm will back it up and give it legitimacy.

M.Pino

Source: Diario Bitcoin

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