July 24, 2024
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Citigroup CEO Explains How Digital Assets Will Become Part Of Financial System


Citigroup CEO Jane Fraser while speaking during Yahoo Finance interview notes there’s a part for cryptocurrencies in the traditional financial system.

Furthermore, Citigroup CEO notes says digital assets can offer benefits in the area of real-time payments.

“It’s clear that digital assets will be part of the financial services and financial markets,…”
“the future of them. We already see clients very active in the space.”

More so, Citigroup CEO adds.
“Real-time payments, both in the sense of they’re [being] frictionless,…”
“they’ll become more global, they’ll become ubiquitous…”
“Real-time payments will be here in the near term, and digital currencies may be part of that future.”

Then, Citigroup CEO concludes.
“We see benefits from the digital asset space – instant…”
“processing, fractionalization, programmability and transparency.”

Furthermore, Citigroup CEO reveals working on building the infrastructure for activating real-time payments.

“For me as a CEO, I’m working to connect our clients to wallets…”
“We’re enabling our businesses and our corporate clients to accept consumer payments…”
“We’re building the infrastructure for retail real-time payments.”

Additionally, CEO explains.

“But we’re doing so cautiously, because the space is moving so quickly and…”
“not all the guard rails that you would like to see are yet in place.”

Lastly, The Citigroup CEO reveals that the multinational financial services giant is considering crypto assets with
“appropriate caution” to protect clients.

“I would say we’re proceeding thoughtfully and with appropriate caution here…”
“Why is that? There’s still a lot of questions about how the space evolves…”

Additionally, Citigroup CEO adds
“Around regulatory clarity, around some of the scalability, around resiliency,…”
“certainly around some transparency, and making sure that there are…”
“the appropriate guard rails in the system, particularly for our retail clients.”

“We don’t want them participating in areas that…”
“they’re not necessarily as well-equipped to understand the risks.”

Then, Citigroup CEO concludes.