American multinational investment bank Citigroup announced plans to potentially issue its stablecoin, as CEO Jane Fraser revealed during a post-earnings conference call. As first reported by Reuters, Fraser emphasized the bank’s focus on both the stablecoin initiative and the growing tokenized deposit sector, stating, “This is a good opportunity for us. ” As the third-largest lender in the United States, Citigroup is also exploring solutions for reserve management related to stablecoins and providing custody services for cryptocurrency assets. Citigroup’s Plan For New Stablecoin Initiative This announcement follows a strong second-quarter performance for Citigroup, which saw its shares reach their highest levels since the 2008 financial crisis
source: https://www.newsbtc.com/news/citigroup-ceo-confirms-interest-in-issuing-a-proprietary-stablecoin-reuters/