Citigroup Eyes Stablecoin Custody, Instant Payments and Crypto ETF Services
Citigroup is preparing to expand its footprint in the digital asset sector, with plans to offer custody and settlement solutions for both stablecoins and cryptocurrency-based investment products.
The move, revealed by Reuters by a senior executive, signals the Wall Street giant’s intent to bridge traditional finance with blockchain-powered payments.
Initially, Citi’s focus will be on safeguarding high-quality reserves that back stablecoins – such as U.S. Treasuries or cash – in line with new U.S. regulations passed last month. The legislation mandates strict backing requirements for stablecoin issuers, creating fresh opportunities for established custodian banks to step into the space.
Beyond reserves, the bank…
