Citigroup is moving into digital assets by exploring stablecoins

Description

Citigroup is preparing to make a significant move into the digital asset space, exploring stablecoins and other cryptocurrencies pegged to asset prices. The U.S. banking giant also evaluates alternative ways to help clients accelerate payments. The push comes on the heels of new U.S. legislation enabling banks to issue stablecoins directly—provided they are backed 1:1 by risk-free reserve assets such as U.S. Treasuries or cash. This creates fresh opportunities for major custody banks like Citi t...