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Citigroup Explores Stablecoin Launch to Bolster Digital Payments Strategy
Citigroup Explores Stablecoin Launch to Bolster Digital Payments Strategy
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BTCCSquare news:
Citigroup is positioning itself at the forefront of institutional crypto adoption with plans to develop a proprietary stablecoin. The banking giant's proposed Citi stablecoin would tokenize customer deposits, enabling 24/7 blockchain-based settlements. CEO Jane Fraser framed the initiative as a natural evolution of payment infrastructure during the firm's earnings call, emphasizing speed and transparency as key advantages.
The MOVE mirrors JPMorgan's JPM Coin project but distinguishes itself through a focus on regulatory compliance. Citigroup aims to directly manage dollar-pegged reserves while expanding into crypto custodial services—a clear bid to capture market share as Wall Street accelerates its embrace of blockchain technology.
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