Citigroup Confirms It Is Actively Evaluating a Citi-Issued Stablecoin
2025-07-16 16:58:20
Main Idea
Citigroup is actively evaluating the launch of a Citi-issued stablecoin, supported by strong earnings and a $4 billion stock buyback, as part of Wall Street's increasing interest in stablecoins.
Key Points
1. Citigroup's CEO Jane Fraser confirmed the evaluation of a Citi-issued stablecoin during the Q2 earnings call.
2. The bank's move is supported by solid earnings and a $4 billion stock buyback.
3. JPMorgan, once skeptical about crypto, is also piloting its JPM Coin for internal settlements.
4. A banking consortium including JPMorgan, Citigroup, and Bank of America aims to improve cross-border and real-time payments infrastructure.
5. Not all regulators are supportive, with the UK’s Bank of England Governor Andrew Bailey cautioning against bank-issued stablecoins.
Description
Citigroup’s shares hit their highest level since 2008, supported by solid earnings and a $4 billion stock buyback Internal research from the company projects that the stablecoin market could balloon to $3.7 trillion by 2030 Citigroup’s interest in stablecoins goes beyond issuance, as the bank is investigating services for managing stablecoin reserves and simultaneously developing custodial solutions for cryptocurrency assets In its Q2 earnings call, CEO Jane Fraser confirmed that Citigroup (the ...
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