Citigroup Evaluates Collaboration with Ripple-Owned Metaco, Reveals Report

By Lola Coin Jun 30, 202371Views

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American multinational investment giant Citigroup Inc. is reportedly reviewing its partnership with crypto custody firm Metaco.

The move comes amidst tumultuous market conditions in the digital assets industry.
Both Citi and Metaco have started informal talks with other providers.
Crypto industry uncertainty has led to banking partners stepping back from crypto firms.
Ripple’s acquisition of Metaco and custody becoming a bone of contention may have triggered Citi’s decision.

Hot Take

Citi’s review of its partnership with Metaco reflects the challenges faced by traditional financial firms in the volatile crypto industry. The move may be influenced by Ripple’s acquisition of Metaco and the ongoing custody disputes within the crypto space. This development underscores the need for careful consideration and due diligence when entering into partnerships in the digital assets sector.

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