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MLB Team Washington Nationals Partners With Terra Blockchain Community, Ballpark Plans to Accept UST

On February 9, the American professional baseball team based in Washington, D.C., the Washington Nationals, announced the team has partnered with Terra, the open-source blockchain platform and decentralized autonomous organization (DAO). The Washington Nationals detail that the team is a “leading innovator” and is “consistently introducing new technologies to enhance the fan experience.” Washington Nationals Ink Long-Term Deal With Terra Major League Baseball (MLB) team the Washington Nationals has partnered with the blockchain platform and DAO Terra, according to an announcement published by the team on Wednesday. The deal with Terra follows a slew of sports-related deals with crypto firms, but the MLB team will be the first to partner with an open-source blockchain project. In addition to the partnership, the algorithmic stablecoin UST that’s issued on the Terra blockchain will be “accepted as a payment method at Nationals Park as early as next season.” “The Nationals continue t...
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Citi Group appoints head of digital assets in crypto hiring spree

The new head of digital assets at Citi’s institutional branch will focus on pursuing connections and investments with clients, startups, and regulators.

American multinational investment bank Citi announced it had appointed Puneet Singhvi to lead the digital assets division of its Institutional Clients Group (ICG) starting on Dec. 1.

In addition to appointing Singhvi on Nov. 22, Citi is hiring 100 additional personnel to for its digital assets division. The move indicates a concerted effort to beef up the financial group’s understanding of digital assets. Singhvi was previously the head of blockchain and digital assets in Citi’s trading business

Citi Group is the world’s largest issuer of credit cards, and its ICG serves corporations, financial institutions, and governments around the world.

An emailed statement from Emily Turner, head of business development at the ICG, hinted that the bank is exploring its options in providing digital assets services to its clients.

“Prior to offering any products and services, we are studying these markets, as well as the evolving regulatory landscape and associated risks in order to meet our own regulatory frameworks and supervisory expectations.”

Turner continued by saying, “We believe in the potential of blockchain and digital assets including the benefits of efficiency, instant processing, fractionalization, programmability, and transparency.”

Related: Bank of America identifies 20 high-profile US companies with crypto exposure

Citi is not the only major U.S. bank hiring crypto talent as Bank of America sought a specialist on Ripple (XRP) in October. Additionally, Yahoo News reported on Nov. 6 that financial institutions have increased crypto hires by 40% in the first half of 2021, and they are attracting this netech talent by increasing pay packages by as much as 50%.

In addition to Citi, other major banks seeking crypto talent include JPMorgan Chase, BNY Mellon, Deutsche Bank, Wells Fargo, Goldman Sachs, Morgan Stanley, Capital One, UBS, Credit Suisse, and Barclays.

Citi Group currently does not currently offer any dedicated digital asset services for its clients, although rumors circulated in late August suggested that it was considering offering Bitcoin futures trading for institutional investors.

Some of Citi’s competitors among the top banks in the USA already offer various services related to digital assets. JP Morgan provides access to six different crypto funds while Bank of America currently offers Bitcoin futures trading for certain clients and operates a crypto research team.

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