Revolut joins a growing list of TradFi leaders embracing blockchain to enable real-world use for mainstream finance.This is just the first phase of a larger collaboration. We’re excited to continue our work with the team, as we power the next generation of instant, borderless money movement. ...

Core Insights - Citibank is planning to launch crypto custody services in the coming year, aiming to provide a credible solution for asset managers and clients [1] - The regulatory landscape for cryptocurrencies is evolving, particularly with the introduction of the GENIUS Act, which has encouraged banks like Citi to engage more with crypto [1] - Other banks, such as U.S. Bank and PNC Bank, are also entering the crypto custody space, while JPMorgan Chase has opted not to offer such services [3] Group 1: Crypto Custody Services - Citi is looking to offer custody services for digital assets, similar to traditional banking services [2] - U.S. Bank has recently resumed its custody services for crypto assets, while PNC Bank is partnering with Coinbase for custody and trading [3] Group 2: Stablecoins - Citi is exploring the launch of its own stablecoins and has invested in BVNK, a platform for stablecoin infrastructure [4] - The interest in stablecoins is growing, particularly for settling on-chain and crypto asset transactions [5]

Core Insights - 2025 is anticipated to be a significant year for crypto IPOs, following Circle's successful NYSE debut in June [2][4] - Major capital raises and the increasing number of crypto firms seeking public listings indicate a pivotal moment in integrating the crypto industry with traditional finance [3][6] - The surge in crypto IPOs is seen as a sign of the industry's maturation and institutionalization [6][7] Company Developments - Circle's IPO on June 5 was priced at $31, raising approximately $1.05 billion, with shares soaring up to 180% on the first trading day [4][5] - Tether is reportedly negotiating a $20 billion funding round, which would elevate its valuation to $500 billion, comparable to major companies like Netflix [5] - Kraken's valuation reached $15 billion ahead of its anticipated IPO, positioning it among the most valuable private exchanges globally [5][6] Industry Trends - The entry of crypto firms into public markets is expected to provide legitimacy and access to institutional capital, facilitating further development and integration of digital assets [6][7] - The rise of stablecoins, with over $300 billion in circulation, is becoming essential for digital payments, especially in high-inflation countries [7]