Citigroup Looks to Issue Its Own Stablecoin to Smooth Payments

Citigroup Inc. is considering issuing its own stablecoin, positioning the company as a possible early mover in the push by traditional banks to expand into cryptocurrencies.

“We are looking at the issuance of a Citi stablecoin,” Chief Executive Officer Jane Fraser said on an earnings conference call with analysts Tuesday, adding that the bank is also focused on tokenized deposits and custody for cryptoassets.