JPMorgan and Citi will not immediately clear bitcoin trade

Big Banks, including JPMorgan Chase and Citigroup will not immediately clear bitcoin trades for clients once Global Markets and CME Group start trading futures contracts in the cryptocurrency next week, the Financial Times reported, citing people familiar with the matter.

Goldman Sachs Group Inc said it is planning to clear bitcoin futures for some clients as the new contracts go live on the exchanges in the coming days.

JPMorgan and Citigroup did not immediately respond to requests for comment.

JPMorgan Chase & Co. is an American multinational banking and financial services holding company headquartered in New York City.

Citigroup Inc. or Citi is an American multinational investment banking and financial services corporation headquartered in Manhattan, New York City.

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Written by Brad Chillum

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