Citigroup explores Stablecoins
Citigroup's entry into the issuance of stablecoins signals significant institutional adoption, projecting market growth to $1.6-3.7T by 2030.
JPMorgan and Bank of America are also developing similar initiatives, highlighting a shift in the banking sector towards blockchain-based payment solutions for cross-border transfers and treasury operations.
Trend in banking adoptionKey FactorsRegulatory developments through the GENIUS Act provide U.S. banks with frameworks for the issuance of stablecoins, requiring reserve audits.
Institutional alliances are accelerating, especially with Circle's payment system, despite warnings from the Bank of England about potential systemic risks and competition with central bank digital currencies (CBDC).
