NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

Citigroup Hunts for Fintech Innovators | NewsBTC

NewsBTC
NewsBTC
4 years ago
2 mins read
Citi Experimenting With Bitcoin Technology For The Last Few Years

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

American banking behemoth Citigroup earlier revealed that it has been looking at the Bitcoin’s distributed ledger technology for the last few years, and has developed three blockchains and a test currency called Citicoin to pass through them in a bid to create a framework parallel to the Bitcoin and the blockchain.

And now, according to South China Morning Post, Citigroup has launched a hunt for the most promising fintech innovators in Hong Kong and APAC with its new accelerator program called  Citi Mobile Challenge Asia-Pacific. The registration for the upcoming contest will begin from August 19 and end on September 2.

The accelerator program is a part of Citi’s global initiative to unearth potentially-strong startups to transform the banking operations.

Weber Lo, Citi’s Chief Executive for Hong Kong and Macau, said “Asia is home to a fast-growing fintech community, and this initiative will help accelerate and uncover new and exciting opportunities for Citi to develop transformational approaches to banking.”

About 20 groups will be invited to demonstration events in Hong Kong, Singapore, Sydney, and Bangalore, where they will be judged by a panel of industry experts. The finalists will receive US$100,000 in cash awards and services from a range of sponsors.

“Citi Mobile Challenge has helped us connect with top developers across the world, and we are excited to bring this opportunity to Asia-Pacific,” said Lo.

However, Citi is a little late to the party. Financial institutions such as Barclays, DBS, and Accenture have already hosted their accelerator programs. Barclays Accelerator program saw Bitcoin exchange Safello partnering with the bank. DBS sponsored a code fest in March called DBS Blockchain Hack wherein participants had to develop products for the banking and the financial sector using the blockchain technology. Accenture’s FinTech Innovation Lab Asia Pacific 2015 selected Hong Kong-based Bitcoin remittance platform BitSpark.

So, the big question is: Will another Bitcoin startup shine above all in the Citi Challenge?

Tweet123Share196ShareSend
NewsBTC
NewsBTC

NewsBTC

Comments 1

  1. Jon Samsel says:
    10 years ago

    It seems unlikely that early adopters of digital currencies will flock to bank-sanctioned currencies such as Citicoin. With the right ‘feel good’ marketing campaign and perhaps an unconventional ‘Virgin Galactic frequent flyer mileage award bonus plan’ attached to it, they might just succeed in winning over the hearts and minds of ‘coiners’ — you never know!

    In banking, product features, offers, and brand positioning should be distinctive to set one bank apart from another. Most banks are terrible at being unique. It’s just not in their conservative, highly-regulated, and risk-averse DNA.

    From this POV, what Citi is doing by announcing its Citicoin initiative makes sense. It certainly is memorable and its feels forward-thinking as well. The real question is, will early adopters of digital currencies embrace Citicoin? Will the Citicoin catch fire on it’s own merits? Or is it merely a bold experiment by a bank to market itself more progressively?

    The jury is out.

    Reply

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Comments 1

  1. Jon Samsel says:
    10 years ago

    It seems unlikely that early adopters of digital currencies will flock to bank-sanctioned currencies such as Citicoin. With the right ‘feel good’ marketing campaign and perhaps an unconventional ‘Virgin Galactic frequent flyer mileage award bonus plan’ attached to it, they might just succeed in winning over the hearts and minds of ‘coiners’ — you never know!

    In banking, product features, offers, and brand positioning should be distinctive to set one bank apart from another. Most banks are terrible at being unique. It’s just not in their conservative, highly-regulated, and risk-averse DNA.

    From this POV, what Citi is doing by announcing its Citicoin initiative makes sense. It certainly is memorable and its feels forward-thinking as well. The real question is, will early adopters of digital currencies embrace Citicoin? Will the Citicoin catch fire on it’s own merits? Or is it merely a bold experiment by a bank to market itself more progressively?

    The jury is out.

    Reply

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Dogecoin

Dogecoin Resistance Walls Ahead: Analyst Flags 3 Key Levels

An analyst has pointed out three key resistance levels for Dogecoin that could be to keep an eye on, based...

Keshav Verma 3 hours ago
Bitcoin Traders Are Betting Against the Rally, Will It Backfire?

Bitcoin Traders Are Betting Against the Rally, Will It Backfire?

Bitcoin has continued to trade within a tight range just below its previous all-time high, showing recent signs of upward...

Samuel Edyme 4 hours ago
xrp price xrpusdt

XRP Price Brewing A Monster Rally? This Patter Might Hold The Key

As the crypto market moves sideways with low volatility on low timeframes, the XRP price trends to the upside. According...

James Halver 6 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Strategy

No New Bitcoin Buys: Strategy Takes A Breather After 3 Consecutive Months

Ronaldo Marquez 32 minutes ago
Bitcoin

Bitcoin Back In ‘Retesting Phase’ After Key Level Reclaim – The Calm Before The Storm?

Rubmar Garcia 1 hour ago

本月最值得關注的5枚迷因幣與預售項目—10倍潛力幣一覽

Mark Mak 2 hours ago

Premium Sponsors

Press Releases

  • SWL Miner launches the best free cloud mining for BTC...

    2 hours ago
  • Criptomoneda alternativă în trend față de Dogecoin (DOGE) care poate transforma 3.200 RON în 320.000 RON în 4 luni

    Criptomoneda alternativă în trend față de Dogecoin...

    2 hours ago
  • 3 altcoinuri de urmărit în prima săptămână a lunii iulie 2025

    11 hours ago
  • XRP versus Shiba Inu: Care criptomonedă are șanse mai mari să creeze milionari?

    XRP versus Shiba Inu: Care criptomonedă are șanse mai...

    11 hours ago
  • XRP, SOL, LTC holders turn to OPTO Miner to earn $5,777 in...

    14 hours ago

Newsletter

Be the first to get the latest important crypto news & events to your inbox.

  • This field is for validation purposes and should be left unchanged.

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.