Jane Fraser told analysts the bank is evaluating stablecoin issuance and advancing tokenized deposit solutions as part of a broader digital finance strategy.
Citi's $243 price target suggests roughly 34% upside from last night's close just above $181.
As stablecoin usage grows, so does the demand for short-term U.S. Treasuries, the report said.
Such a stablecoin, potentially open to other banks, aims to improve transaction speeds and efficiency while fending off competition from crypto firms.
Citi will act as a custodian and issuer agent for tokenized assets on SDX’s digital Central Securities Depository (CSD) platform.
Stablecoin issuers could become one of the top U.S. Treasury holders, surpassing major sovereign nations, the report projected.
The President announced that XRP, SOL, BTC, ETH and ADA would be included in the strategic reserve.
Robinhoood shares jumped 13% in early trading Thursday after fourth-quarter earnings beat estimates.
Ether has dropped over 20% this year, but fundamentals are improving, the report said.
The correlation between bitcoin and the stock market is expected to weaken as the adoption of digital assets grows, the report said.
The nomination of crypto-friendly Paul Atkins as chair of the SEC provided the final boost that propelled bitcoin through the $100,000 level, the report said.
The proof-of-concept, which will be exhibited at the Singapore Fintech Festival from Nov. 6-8, demonstrates how investors could settle multi-asset positions in real-time.
Republican control of the Senate would be key to passing bills such as FIT21 and appointing pro-crypto agency leaders, and digital asset reform would likely happen sooner with both chambers aligned, the report said.
The Foundation has also launched a collaborative working group for traditional financial institutions to work atop of the company’s Besu Ethereum client.