Citigroup CEO Argues Tokenized Deposits Are Key to Future of Global Payments

Citigroup CEO Jane Fraser believes tokenized deposits will be instrumental in driving the next wave of global payments, challenging the dominance of stablecoins. In a recent earnings call, she emphasized how institutional clients increasingly demand real-time, cost-effective cross-border transactions that can be handled via tokenized deposits rather than relying on stablecoins. 24/7 U.S. dollar clearing network by Citi connecting over 250 banks in 40 markets facilitates instant fund movement, which Fraser cites as a strong advantage over stablecoins.