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Key Takeaways
- Fraser said stablecoins can be “clunky” for Citi’s corporate clients.
- Citi Token Services moves bank money without requiring wallets or token holdings.
- Spring merchants can accept stablecoins and receive fiat settlement.
- Cross-bank tokenized-deposit transfers remain in a controlled pilot phase.
On Citi’s October 13 earnings call, Fraser said stablecoins can be harder for the bank’s corporate client base to use across borders because of compliance, accounting and tax requirements.
“We see less activity on stablecoins, honestly, given the nature of our client base. Stablecoins can be a bit more clunky, with more complexity around compliance, accounting and tax when moving money around the world, whereas tokenization provides the easiest way to do it.”
The comments, recorded on page 16 of Citi’s third-quarter earnings transcript, describe demand among its clients rather than ...
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