One of the largest international banking conglomerates, the American Citigroup plans to release its own stablecoin. A digital coin is needed to simplify digital payments, said CITI Director General Jane Fraser.

The general director said that the banking group is going to engage in the release and management of the emission of CITI stabilcoins, the integration of fiat and digital assets, offer caste -dodel services to corporate crypto investors, as well as deposits tokenization.

“Citigroup private and institutional clients show great interest in digital assets, and this is a good opportunity to strengthen our positions. We intend to speed up the exit to the US tokenized deposit market, where they are already very active, ”said Jane Fraser.

The head of CITI said that the experts of the CITI Institute analytical center are expected to increase the volume of the stabilcoins market to $ 3.7 trillion to 2030, which makes the Citigroup project important for competition with other market participants, for example, JPMorgan.

Earlier, the general director of the American financial corporation Jpmorgan Chase, Jamie Dimon, said that the company would be ready to launch its own deposit stabilco-like JPMD token in 2025.