Citigroup considers custody and payment services for stablecoins, crypto ETFs
1. Citigroup plans to offer stablecoin custody and related services. 2. This move aligns with recent policy changes promoting crypto expansion.
FAQ
Why Bullish?
Citigroup's entry into cryptocurrency reflects a broader trend of financial innovation. Historical examples, like JPMorgan's entry into blockchain, led to positive market reactions.
How important is it?
The initiative aligns Citigroup with emerging markets, suggesting a strategic pivot amid regulatory changes.
Why Long Term?
Establishing stablecoin services could set a foundation for future growth in the crypto market, like BlackRock's ETF initiatives.