Citigroup is exploring the issuance of stablecoins for cross-border payments

According to a report by Golden Finance, Jane Fraser, CEO of Citigroup, stated during this week's earnings conference call that Citigroup is exploring the issuance of stablecoins for cross-border payments, joining the growing number of large banks considering launching stablecoin projects. We are studying the possibility of issuing Citibank stablecoins, "Fraser said on Tuesday." We are exploring reserve management mechanisms for stablecoins, as well as two-way conversion channels from cash to tokens and from tokens to cash In fact, Citigroup has already shown interest in the stablecoin market. According to a report by The Wall Street Journal in May, Citigroup had held talks with financial institutions such as JPMorgan Chase, Bank of America, and Wells Fargo to discuss the possibility of jointly issuing stablecoins pegged to the US dollar.