HawkInsight

  • Contact Us
  • App
  • English

Citi is exploring issuing stablecoins for cross-border payments

According to online reports, Citigroup CEO Jane Fraser said on this week's earnings conference call that Citigroup is exploring issuing stablecoins for cross-border payments, joining a growing number of large banks considering launching stablecoin projects. "We are studying the possibility of issuing Citi stablecoins." "We are exploring... reserve management mechanisms for stablecoins and two-way conversion channels from cash to token and from token to cash," Fraser said on Tuesday. In fact, Citi has previously expressed interest in the stablecoin market. The Wall Street Journal reported in May that Citigroup had held talks with financial institutions such as JPMorgan Chase, Bank of America and Wells Fargo to discuss the possibility of jointly issuing stablecoins pegged to the dollar.

Disclaimer: The views in this article are from the original Creator and do not represent the views or position of Hawk Insight. The content of the article is for reference, communication and learning only, and does not constitute investment advice. If it involves copyright issues, please contact us for deletion.

NewFlashHawk Insight
More