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Citigroup (C) is accelerating its digital asset strategy, with CEO Jane Fraser confirming that the bank is “looking at the issuance of a Citi stablecoin.” Speaking during the Q2 2025 earnings call, Fraser emphasized tokenized deposits as Citi’s current top priority, calling them essential to modernizing operations, expanding revenue streams, and attracting new clients.
Fraser highlighted digital assets as the next evolution in financial digitization, likening the shift to the earlier fintech revolution. Citi aims to meet rising client demand for seamless, cross-border, always-on financial services that include compliance, reporting, and accounting features. The bank is currently focused on four core areas: stablecoin reserve management, fiat-to-crypto on/off-ramps, custodial services, and tokenized deposits—the latter described as Citi’s most active area.
The announcement aligns with a broader trend of traditional financial institutions exploring stablecoins. This year, stablecoins have seen rapid adoption for trading and cross-border payments, prompting both crypto firms and banks to enter the space. JPMorgan CEO Jamie Dimon, despite his crypto skepticism, also recently acknowledged the bank’s growing interest in stablecoins.
Citi’s internal research projects the stablecoin market could reach $3.7 trillion by 2030, driven largely by U.S. dollar-pegged assets. The timing of Fraser’s remarks coincides with “crypto week” in Washington, where lawmakers are debating key digital asset legislation. However, political hurdles have slowed the bills’ progress.
Financially, Citigroup reported Q2 2025 net income of $4.0 billion ($1.96 per share), up from $3.2 billion ($1.52 per share) in Q2 2024. Revenue climbed 8% to $21.7 billion, showing strong performance across all business segments.
Citi’s stablecoin exploration signals a significant step in mainstream financial adoption of blockchain and digital asset infrastructure.
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