Citigroup is planning a digital asset receipt (DAR), a new way to trade cryptography.
Citigroup plans to develop a financial product called DAR and make it possible for Wall Street investors such as hedge funds to participate in cryptographic transactions without having actual passwords. DAR can be used by US investors to invest in foreign stocks that are not listed in the United States. Similar to American Depositary Receipts (ADR). ADR takes the form of a financial institution holding foreign stocks and issuing deposited securities.
DAR says that a different organization from Citigroup will hold the cipher money and Citigroup will issue DAR. For investors, we can expect to be able to invest in cryptography using legitimate legacy systems.
Citigroup is not responding to the coverage. So we do not know how and when DAR will start. For more information, please click here.