Citigroup Dey Eye Stablecoin Custody and Bitcoin ETF Services
Citigroup dey evaluate stablecoin custody plus Bitcoin ETF services as dem respond to di GENIUS Act wey talk say make all reserve full. Di head of Global Partnerships, Biswarup Chatterjee talk say stablecoin custody na top priority, make e sure sey e get US Treasuries or cash support. Di bank wan offer digital asset custody for Bitcoin ETFs, wey go challenge Coinbase market control, plus dem wan expand blockchain-based Tokenized USD Payments corridor between New York, London, and Hong Kong. Citi go allow quick on-chain stablecoin transfers and conversion make settlement fast, everybody go fit dey do cross-border payment quick. All these moves go deepen Citigroup institutional crypto services as USA regulations dey clear, but di bank need hold strong AML and FX controls, plus strengthen operation security.
Bullish
Citigroup push inside Bitcoin ETF custody and stablecoin custody services dey show say institutional support for cryptocurrency infrastructure dey grow, wey good for BTC. For short term, to offer ETF custody fit attract new institutional money enter Bitcoin funds, wey go raise trading volumes and price. Plus, easier cross-border payments through stablecoins fit improve liquidity and market efficiency, wey go indirectly benefit Bitcoin by reducing wahala for global trades. For long term, wider institutional adoption supported by clear regulations under GENIUS Act fit maintain demand and reduce volatility, wey go still support better market outlook. But stablecoin custody itself get small direct impact on stablecoin pegs but e dey support overall market trust.