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.

Xalts has been awarded $6 million in seed funding co-run by Citi Ventures, but the bank’s venture capital arm has refused to be drawn on the actual amount.

Polgon founder joins list of backers

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