Jane Fraser Confirms Citi Stablecoin Plans As Rules Ease Under Trump

Citigroup (Citi) CEO Jane Fraser has confirmed the bank is exploring launching its own stablecoin, along with tokenized deposits and crypto custody services. This move is part of a larger trend of major banks, including JPMorgan, Bank of America, and Wells Fargo, showing increased interest in stablecoins. Fraser attributed this to the Trump administration's policies that provide clearer rules for stablecoin issuers, and the Federal Reserve easing regulations on banks' crypto activities. The stablecoin market is growing, with a circulating supply of $11 billion and over 109 million wallets worldwide using stablecoins. Societe Generale is also launching a Euro-pegged stablecoin on Ethereum and Solana in July 2025.