Citigroup is considering offering stablecoin custody and payment services, exploring support for crypto ETFs

ChainCatcher news, according to Reuters, Citigroup is exploring the provision of stablecoin custody and other services. After Congress passed a law paving the way for the widespread use of crypto tokens for payments, settlements, and other services, Citigroup has become one of the few traditional institutions considering entering the stablecoin space.

Biswarup Chatterjee, Head of Global Partnerships and Innovation in Citigroup's Services division, stated that providing custody services for high-quality assets supporting stablecoins is a primary consideration for Citigroup.

Additionally, Citigroup is also exploring digital asset custody services to support crypto-related investment products, as well as using stablecoins to accelerate payment speeds, allowing customers to send stablecoins between accounts or convert them to dollars for instant payments.