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More Heavyweights Join The Stablecoin Race As Citibank, JP Morgan Consider Own Products
The post More Heavyweights Join The Stablecoin Race As Citibank, JP Morgan Consider Own Products appeared on BitcoinEthereumNews.com. Key Insights: Citigroup is considering launching a stablecoin and entering the tokenized deposit space Other heavyweights like JPMorgan are also entering the sector despite previous skepticism Favorable new bills like the GENIUS Act are encouraging more and more banks to embrace stablecoins. The race among tradi…
Citi’s Fraser upbeat on trade amid global uncertainty
Citi chief executive Jane Fraser says she is “feeling good” about the performance of the bank’s trade unit amid global trade and geopolitical uncertainty, partly because companies are building up inventories and cash buffers. Revenue from Citi’s trade and treasury solutions (TTS) business was US$3.67bn in the second quarter, according to earnings released on July 15. While that was a 7% jump on the same period in 2024, it a rise of only 1% co…
The stablecoin race is gaining momentum on Wall Street, with giants like JPMorgan and DTCC also participating. Citigroup announced that it is considering issuing the Citi stablecoin to provide speed and transparency in digital payments. Read More: Banking Giant Joins Altcoin Competition on Wall Street: Its...
Citigroup Explores Stablecoin Issuance as Major Banks Embrace Digital Assets
Citigroup, the third-largest U.S. bank, is actively considering issuing its own stablecoin as part of a broader digital payments strategy, CEO Jane Fraser revealed during a post-earnings conference call on Tuesday, according to Reuters."We are looking at the issuance of a Citi stablecoin, but probably most importantly is the tokenized deposit space, where we're very active," Fraser told analysts. "This is a good opportunity for us."Beyond stable…
Citigroup Explores Launch of Own Stablecoin - Fintech Schweiz Digital Finance News - FintechNewsCH
Citigroup is considering issuing its own stablecoin, as revealed by CEO Jane Fraser during a post-earnings call. The move is part of the bank’s broader digital assets strategy, which includes reserve management and crypto custody services, aiming to strengthen its position in the digital payments space. Fraser pointed to the supportive regulatory framework under the Genius Act, which enables banks to participate more fully in digital assets. The…
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