Citibank to build payment infrastructure for digital assets
Major US financial company Citibank CEO Jane Fraser told Yahoo Finance on Monday that the company is currently building a payment infrastructure for real-time payments of digital assets.
“It’s clear that digital assets will be a part of the financial services and financial markets, the future of them,” Fraser said in the interview.
"It’s clear that digital assets will be a part of the financial services and financial markets, the future of them," @Citi CEO Jane Fraser says, later adding: "Real-time payments will be here in the near term, and digital currencies may be part of that future." pic.twitter.com/jKUi01vLxu
— Yahoo Finance (@YahooFinance) October 25, 2021
However, the company is likely careful due to regulatory uncertainty on crypto assets.
“There’s still a lot of questions about how the space evolves around regulatory clarity around some of the scalability around resiliency, certainly around some transparency, and making sure that there are the appropriate guardrails in the system, particularly for our retail clients we don’t want them participating in areas that know they’re not necessarily as well equipped to understand the risks of.”
Citigroup is one of the financial giants that has been active in the emerging industry. It has actively engaged in crypto-related business and recently launched “Digital Asset Group”, a division specializing in cryptocurrencies and blockchains.
In addition, the company also revealed plans to offer trading in bitcoin futures contracts to institutional clients on the Chicago Mercantile Exchange (CME).
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OhNoCryptocurrency via https://www.ohnocrypto.com/ @Gauri Bhatia, @Khareem Sudlow
