(Reuters) – Citigroup The U.S. Bank announced Tuesday that it is seeking to hire 100 people for roles in its digital asset division. This includes digital currencies and blockchain.

Traditional banks are looking for ways to tap into the expanding cryptocurrency market. This intitiative is the latest attempt to do so.

Citi stated in memo that Puneet Singvi, Citi’s global markets head for blockchain and digital assets, would lead the new team. It was sent to the media.

Citi spokeswoman said that the new team would include both internal and external employees and will be located in Singapore, New York and London. The hiring process is set to conclude by 2022.

The spokesperson stated that before offering products or services to these markets, they are looking at the regulatory environment and risks associated with them in order to develop our regulatory frameworks.

This year Bank of America (NYSE:) started cryptocurrency research coverage, Goldman Sachs (NYSE:) launched a crypto-trading team and JPMorgan Chase & Co (NYSE:) allowed wealth management clients access to cryptocurrency funds, even though Jamie Dimon, its head, has been a vocal critic of the sector.

DBS Group, OTC: is expanding in Asia its cryptocurrency trading platform.

Citi’s newly formed team will assist in product development, project management and strategy formulation.