Citigroup considers custody and payment services for stablecoins, crypto ETFs

From channelnewsasia.com

Citigroup is exploring providing stablecoin custody and other services, a top executive told Reuters, in a further sign sweeping policy changes in Washington are spurring major financial firms to expand into the cryptocurrency business. The U.S. bank is among a handful of traditional institutions, including Fiserv and Bank of America, considering pushing into stablecoins after Congress passed a law paving the way for the crypto tokens to become widely used for payments, settlement, and other services. Stablecoins are cryptocurrencies pegged to a fiat currency or another asset, commonly the U.S. dollar. That law ... (full story)