Behemoth buy-in: Citi, BlackRock, Goldman Sachs lay out crypto visions
Major financial institutions are accelerating their embrace of cryptocurrency, with Citi projecting stablecoin issuance to reach $1.9 trillion by 2030. The bank's research analyst Sophia Bantanidis framed this growth as "blockchain's ChatGPT moment for institutional adoption" during the Digital Asset Summit.
BNP Paribas revealed plans to explore a reserve-backed digital currency for G7 markets, collaborating with nine banks including Citi and Goldman Sachs. Goldman's digital assets head Mathew McDermott highlighted tokenization as the dominant theme, particularly for collateral mobility applications.
The institutional momentum coincides with US Bank's launch of a new division focused on stablecoin issuance and crypto custody services, signaling broader traditional finance adoption of blockchain infrastructure.