Citi's CEO, Jane Fraser, announced during an earnings call that the bank is considering launching its own stablecoin to enhance digital payments. Fraser highlighted that the focus is on tokenized deposits, viewing it as a significant opportunity for the bank. Additionally, Citi is exploring reserve management for stablecoins and offering custody solutions for crypto assets.
On the same day, Citi's stock price reached its highest level since the 2008 financial crisis. This surge followed the release of second-quarter earnings that surpassed Wall Street expectations. The bank also revealed plans to repurchase at least $4 billion worth of shares.
