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Citigroup is laying the groundwork for a deeper move into the digital asset space. During its Q2 2025 earnings call, CEO Jane Fraser outlined the bank’s plans to expand its crypto-related services—including a possible Citi-branded stablecoin.
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cFraser outlined four areas where Citigroup is currently exploring digital asset infrastructure. The list includes reserve management for stablecoins, payment gateways for fiat-to-crypto and back, issuance of a Citi stablecoin, and custodial services for digital assets.
She highlighted tokenized deposits as a particularly active space for the bank, with ongoing work already in motion. Fraser framed these efforts as an opportunity for Citi to lead in shaping how liquidity and payments evolve in the digital age.
Fraser believes stablecoins are ready to go beyond crypto trading and become a broader tool for financial transactions. Right now, she noted, the vast majority—88%—of stablecoin usage is tied to crypto trades. Only 6% currently supports everyday payments.
Citigroup wants to change that. Fraser said:
“In a traditional offering, if you are moving from cash to stablecoin and back to cash, right now, you’re incurring as much as a 7% transaction cost. I mean, that’s just prohibitive. So this is where Citi Token Services is so exciting because it enables the client to move from physical fiat to the digital and back again without incurring that transaction cost.”
She pointed to Citi’s size and existing infrastructure as key advantages in developing a stablecoin that could provide cost savings and faster settlement for clients.