Citibank plans to expand stablecoins and crypto ETFs to provide custody and payment services

Foresight News, according to Reuters, Citibank is exploring custody and payment services for stablecoins and crypto ETFs. Biswarup Chatterjee, head of global cooperation and innovation at Citibank, said the bank first considers providing custody services for quality assets that support stablecoins. Citi's service business (including treasury, cash management, payments and other services for large enterprises) remains the bank's core business unit, and the bank is undergoing a major restructuring. The bank has now launched a blockchain-based "tokenized" US dollar payment system that supports 24-hour cross-border payments between New York, London and Hong Kong.

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