On Tuesday, Citigroup (c) had the second quarter of its 2025 revenue call.
During the call, Ebrahim Poonawala, head of North American Banking Research at Bofa Securities, asked how Citi internally uses Stablecoins for Treasury and global liquidity management, and whether recruitment could interfere with banks' revenues of services.
City CEO Jane Fraser said the bank views digital assets as the next step in broader digitalization of its finances, reflecting previous changes brought on by fintech. She highlighted that Citi's strategy is focused on meeting client demand for seamless, cross-border, multi-bank, and always-on solutions, with built-in compliance, reporting and accounting capabilities.
She outlined four important areas that City is pursuing. Stubcoin Reserve Management, On-Ramp and Off-Ramp between Fiat and Digital Currencies, Cryptocurrency custody services, Tokenized Deposits – these are the last of the most active areas.
Fraser confirmed that he is “considering City's stupid and ridiculous issuance,” but revealed that tokenized deposits now represent a more immediate focus. She added that these innovations will help City modernize its internal operations, unlock new revenue streams and attract clients.
Citigroup reported second-quarter net income of $4 billion, $1.96 per diluted share, $3.2 billion, or $1.52 per share, up $1.96 per share. Revenues rose to $21.7 billion, an 8% increase from the second quarter of 2024.
