Citigroup’s CEO Dances Around the Idea of a Citi Stablecoin 🕺💰

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What to know:

  • Citigroup is contemplating the launch of its own stablecoin, though tokenized deposits are still the main event. 🎉
  • CEO Jane Fraser sees digital assets as the next chapter in the digitization of payments, financing, and liquidity. 📚
  • The bank is busy crafting solutions for reserve management, fiat-crypto conversion, tokenized deposits, and crypto custody. 🔧

On Tuesday, Citigroup (C) held its second quarter of 2025 earnings call. During the call, Ebrahim Poonawala, Head of North American Banks Research at BofA Securities, inquired about Citi’s internal use of stablecoins for treasury and global liquidity management, and whether their adoption might shake up the bank’s service revenues. 🤔

Citi CEO Jane Fraser, with a smile as wide as the Mississippi, said the bank views digital assets as the next step in the broader digitization of finance, much like the fintech revolution of yesteryear. She emphasized that Citi’s strategy is all about meeting client demand for seamless, cross-border, multi-bank, always-on solutions, complete with built-in compliance, reporting, and accounting features. 🌍💻

She outlined four key areas Citi is pursuing: stablecoin reserve management, on- and off-ramps between fiat and digital currencies, custodial services for crypto, and tokenized deposits—calling the latter its most active area. 🚀

Fraser confirmed, “We are looking at the issuance of a Citi stablecoin,” but made it clear that tokenized deposits are currently the more immediate focus. She added that these innovations are helping Citi modernize internal operations, unlock new revenue streams, and, of course, attract more clients. 🎉

Citigroup reported a second-quarter 2025 net income of $4.0 billion, or $1.96 per diluted share, up from $3.2 billion, or $1.52 per share, a year earlier. Revenue rose to $21.7 billion, an 8% increase from Q2 2024, driven by growth across all five of the bank’s core businesses. 📈

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2025-07-15 22:36