Citibank Plans to Expand Stablecoin and Crypto ETF Custody and Payment Services

Foresight News reports, citing Reuters, that Citibank is exploring providing custody and payment services for stablecoins and crypto ETFs. Biswarup Chatterjee, Head of Global Partnerships and Innovation at Citibank, stated that the bank’s top priority is to offer custody services for high-quality assets backing stablecoins. Citibank’s services business—including treasury, cash management, payments, and other services for large corporations—remains a core business unit, even as the bank undergoes significant restructuring. The bank has already launched a blockchain-based “tokenized” US dollar payment system, enabling 24-hour cross-border payments between New York, London, and Hong Kong.