Citigroup is exploring the provision of stablecoin custody and related services, according to Biswarup Chatterjee, the company’s Global Head of Collaboration and Innovation for the services division. This move comes after the U.S. Securities and Exchange Commission granted approval for crypto investment products last year, prompting asset management firms to launch Bitcoin-tracking exchange-traded funds (ETFs). 2023 saw a surge in interest surrounding stablecoins as Citibank prepares to offer custody for these assets, as well as those that support cryptocurrency investments. The bank is actively seeking feedback from clients on potential use cases for these services. This signals a growing trend of integrating crypto solutions into traditional banking operations.