With the rise of stablecoins and ETFs, Citigroup goes for its share of the crypto pie
14:10 ▪ 5 min read ▪
Stay Informed
Stablecoins
The fear of getting burned in the crypto market is slowly but surely fading. Where some saw a minefield of speculation, others like Citigroup see it as a giant field of experimentation. Driven by clearer legislation, institutional investors are laying hands on bitcoin like others do on real estate. The banks, for their part, are keeping pace: custody of digital assets, ETFs, payments in stablecoins... The movement is underway.
In summary
Citigroup wants to secure the reserves backing the stablecoins issued under the new U.S. law.
It also aims for the custody of crypto ETFs, a market currently dominated by Coinbase.
24/7 payments via blockchain are already being tested in New York, London, and Hong Kong.
Citigroup collaborates with SIX to tokenize private market assets on distributed ledger.
Stablecoins, ETFs, and asset custody: Citigroup strengthens its game
Citigroup has never done things halfway. When it enters crypto, it targets the backbone: custody. And not just any custody. First, that of the reserves that support the stablecoins, backed by safe securities such as U.S. Treasury bonds or cash.
Biswarup Chatterjee, in charge of alliances at Citi, summarizes: “Providing custody services for high-quality assets that back stablecoins is our primary goal.”
