According to PANews, Biswarup Chatterjee, the Global Head of Collaboration and Innovation at Citigroup's service department, stated that the group is exploring the provision of stablecoin custody and other services. Citigroup is also researching custody services for digital assets that support cryptocurrency investment products. Since the U.S. SEC approved such products last year, many asset management companies have launched ETFs that track the spot price of Bitcoin. Citibank is developing a service that allows customers to transfer stablecoins between accounts or convert them into dollars for instant payments, and is discussing relevant use cases with clients.

#SEC #BTC #ETF