New York -based banking giant Citigroupin order to strengthen his hand in digital payments, he announced that he had evaluated the option to remove his Citi Stablecoin. According to Reuters CEO Jane FraserIn a statement to the analysts at a balance sheet meeting on Tuesday, the bank saw the real potential in tokenized deposits stated. Fraser manages Citigroup’s stablecoin reserves as well as crypto currency He said that he had discussed the possibility of providing storage services. With this approach, it is aimed to provide speed and scale to the bank’s current payment infrastructure.
Stablecoin took its plan on the agenda
Fraser, coming to the table Citi StablecoinHe said that he could instantly process payments by converting classic customer deposits into representative representations in Blockchain. According to the manager, the bank through tokenized deposits is indexed to the US dollar stablecoin It will directly control the supply and increase reserve transparency. Citigroup will be able to make payments on behalf of its customers in this model, while payments will be able to make payments without waiting for an agreement on Blockchain.
Bank’s approach to the limited user group JPM CoinIt is similar to the method of JPMorgan and the DTCC that develops the stablecoin project, which is prepared for the next stage. However, Fraser emphasized that Citigroup prioritizes tokenized deposits by focusing on regulation harmony and risk management first. The bank prepared by US regulators Stablecoin LegislationIt aims to integrate without any problems in the global payment network by progressing parallel.
Wall Street’s Growing Cake Racing Racing Accelerated
Big banks throughout Wall Street, President Donald Trumpsupports the US dollar -backed stablecoin moves. Jpmorgan’s test on the base network JPMD Coin‘i and DTCC’s stablecoin planning plan has increased institutional competition in the sector. Passing through the Senate and is expected to vote in the House of Representatives Genius lawwill put this competition on a full legal basis.
Standard Chartered Digital Asset Research Head Geoffrey KendrickWashington, New York and Boston in 90 percent of the stablecoins are on the agenda, he said. Kendrick has a market value of 257 billion dollarsstablecoin marketIt predicts that if it reaches $ 750 billion at the end of 2026, it will begin to influence traditional financial assets and policies. Similarly, Citigroup’s research indicates that the growth in the US dollar Stablecoin market will reshape the banking ecosystem.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
