Citi has joined London's over-the-counter gold market clearing network, becoming the fifth bank to do so. This significant move expands the bullion trade's settlement infrastructure, which handles approximately $160 billion in daily transactions. Citi's entry, the first in a decade, signals progress in making the market more accessible. The bank will now offer Loco London settlement for gold, silver, platinum, and palladium.

Citigroup joins JPMorgan, HSBC, ICBC Standard Bank, and UBS as the fifth clearing member in London's OTC gold market, the world's largest bullion trading

Citi has joined London's over-the-counter gold market clearing network, becoming the fifth bank to do so. This significant move expands the bullion trade's settlement…

Citi joins LPMCL as the fifth London gold clearing member in a decade, building new vaults near Heathrow with implications for tokenized gold products like