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Citigroup explores providing stablecoin and Crypto Assets ETF custody services.
According to HashKey News, Biswarup Chatterjee, the Global Head of Collaboration and Innovation at Citigroup's service division, stated that the group is exploring the provision of stablecoin custody and other services. Citigroup is researching custody services for digital assets that support Crypto Assets-related investment products. Since the US SEC approved such products last year, many asset management companies have launched ETFs that track the spot price of Bitcoin. In addition, Citibank is developing an instant payment service that allows customers to transfer stablecoins between accounts or convert them into US dollars, and is discussing related use cases with clients.
#Cryptocurrency # ETF #Stablecoin # SEC #CustodyServices