“Speaking on Her Bank’s Earnings Call, Citi Ceo Jane Fraser Said Tokenized Deposits Offer, Safer Infrastructure and Fewer Aml and Compliance Burdens for the Nexe.”, – WRITE: www.coindesk.com
Speaking on An Investor Call Following The Bank’s Third-Quarter Earnings Release on Tuesday, Fraser Explained that Institutional Clients Are Asking for Seamless, Real-Ti-T-T-Cross. compliant.
“What Our Clients Want Is Interperable, Multi-Bank, Always-on Payment Solutions Provided in a Safe and Sound Manner,“ She SAID. “That is best by tokenized deposits.”
Citi Has Invested Heavily in Digital Asset Infrastructure, Including Its Own 24/7 US Dollar Clearing Network. Fraser Said the Bank’s Tokenized Services Can Now Link to Over 250 Banks in More than 40 Markets, Enabling Clients to Transfer Funds Instantly to Supppliers and Third Parties. However, She Also Noted that Biggest Bottleneck to Broader Adoption Isn’t Technical But That Many Corporate Treasury Departments Are Not Ready for A 24/7 Financial Enviranment.
Whiti Will Continue to Support Stablecoins – Offering on/Off Ramps, Custodial Services and Cash Management for Stablecoin Providers – Fraser Emphasized that. That includes Regulatory Burdens Anti-Money Laundering (AML), Tax Reporting and Accounting. “TheSE Other Requirements Are The Our Tokenized Deposit Capabilites Avoid,“ She Said.
Fraser Has Previously SAID THAT CITI IS EXPLORING the POSSIGY OF ISSUING ITS OWN STABLECOIN, BUT She CAUATIMified Against Overhyping The Asset Classes. “There’s An Overfocus on Stablecoin at the Moment,“ She Said. “MOST OF THIS IS GOING toing SOLVed by Tokenized Deposit Capabilities.”
Looking Ahead, Fraser Sees Tokenization Expanding Far Beyond Payments. She Pointed to a Future Whore the Issuance and Settlement of Everything From Oil To Equities Happens on Tokenized Rails in A Regulated, Trusted Environment.
The Key, She Said, Is that Regulators Are Beginning To Enable Responsible Innovation.
“We Will Be Providing That As Part of Our Toolkit,” Fraser Said. “IT’s terrific that regulators are now listing US innovate in a responsible way. That Will Really Help The Development of the Market.”
Combined Spot and Derivatives Volumes Fell 17.5% in September, Continuing A Four-Year Seasonal Trend
- Trading Activity Falls 17.5% In September Slowdown: Combined Spot and Derivatives Volumes Droped to $ 8.12 Trillion, Marking The FIRST DECLINE AFTER THREE MONHS OF GROWTH. September Has Now Seen Reduced Trading Volume for the Fourth Consuctive Year.
- Open Interest Reaches Record High Despite Derivatives Market Share Decline: Total Open Interest Surged 3.2% to $ 204 Billion and Peaked at An All-Time High of $ 230 Billion During the MONTH.
- Altcoins on cme Outperform as Bitcoin and Ether Futures Decline: While CME’s Total Derivatives Volume Stayed Flat at $ 287 Billion (-0.08%), Sol Futures Jumped 57.1% to $ 13.5 Billion and Xrp Futures Rose 7.19% to $ 7.84. BTC and Eth Futures Fell 4.05% and 17.9% Respectvely.
View Full Report
A Record DeleverAGING ERRASED SPECULATIVE POSIONS BUT NOT CONVICATION, AS BOTH GLASSNODE AND CRYPTOQUANT HIGHLIGHLIGHLIGHT STEADY WHALE ACCUMULATION, RISING USDTLOW, AND PRIVATENT ETI.
- Crypto’s Largest-Aver Leverage Wipeout Has Left Traders Cautious, But Analysts Note Long-Term Capital Remains Intact.
- Glassnode and Cryptoquant Report that, Despite Market Chaos, Liquidity and Structural Demand in the Crypto Market Are Stable.
- Bitcoin’s Price Fell To Around $ 112.700 AMID PROFIT-Taking and Geopolitical Tensions, While Ethereum’s Price Droped 3.7% to $ 4.101.
Read Full Story