Key notes
- Citi targets the guard of high quality reserves supporting the stalls following federal requirements under the law on the genius law of Trump.
- The bank provides for real -time cross -border stablecoin transactions, based on existing token transfer services on the main hubs.
- The growth of the Stablescoin market of $ 280 billion and the demand for FNB Bitcoin of $ 100 billion creates institutional opportunities beyond the current domination of Coinbase.
Citigroup plans to launch childcare services for stables and digital assets that support negotiated funds in exchange for cryptocurrency (ETF), according to an interview with Reuters with Biswarup Chatterjee, global partnership and Citi innovation manager.
This decision would oppose Citi against Coinbase, which currently serves as a guard for more than 80% of American cryptocurrency FNB. The bank’s thrust occurs months after US President Donald Trump has signed the genius law, which has established federal requirements for stable issuers to hold high -quality reserves such as US Treasury Bonus or Money.
“Providing childcare services for these high -quality assets that support stablescoins is the first option we are examining”, ” said biswarup chatterjeeGlobal partnership and innovation manager.
Beyond the guard, Citi explores the use of stablescoins for cross-border transactions in real time. The bank already offers transfers to US dollars “token” based on blockchain between accounts in New York, London and Hong Kong, and develops services to move or convert stabbles for instant settlements.
Stablecoin payments and ETF growth stimulate institutional competition
Citigroup’s plans reflect a broader change in the American financial sector, because banks react to positive fluctuations in the American regulatory position towards stable and crypto and crypto products. With a global network of financial services which extend in more than 160 countries and 200 million active customers, Citi’s company in cryptocurrencies and stablecoins could have a significant impact.
Stable Crypto Crypto City Capital | Source: Coingecko
Stablecoin circulation now exceeds $ 280 billion according to CoinmarketCap data, although most activities remain on cryptographic chain markets. Meanwhile, the FNB Bitcoin Spot, legalized in 2024, increased in request, with August 14, August 14.
Chatterjee also noted that the ETF market required custody of the equivalent quantity of digital money to support these products, creating a demand for large -scale and compliant guards. While Citi launched the idea of publishing his own stablecoin, the immediate objective remains the guard, payments and settlement services which can respect the standards of compliance of institutional quality.
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Non-liability clause: Coinspeaker undertakes to provide impartial and transparent reports. This article aims to provide precise and timely information, but should not be considered as financial or investment advice. Since market conditions can change quickly, we encourage you to check the information for yourself and consult a professional before making decisions according to this content.
Ibrahim Ajibade is a seasoned research analyst with training by supporting various web3 and financial organizations. He obtained his undergraduate diploma in economics and is currently studying for a master’s degree in blockchain and distributed major book technologies at the University of Malta.
