Citigroup Considers Offering Stablecoin and Crypto ETF Custody and Payment Services

According to Jinse Finance, Citigroup is exploring the provision of custody, payment, and USD conversion services for stablecoins and crypto asset-related ETFs. The bank plans to custody U.S. Treasury bonds and cash backing stablecoins, and may even issue its own stablecoin. This move is driven by the passage of stablecoin legislation by the U.S. Congress and the Trump administration’s relaxation of regulations. Citigroup is also considering using stablecoins for instant cross-border payments and is discussing application scenarios with clients. Currently, custody services in this sector are dominated by a certain exchange.