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Tokenization and Treasury Innovation Shaped Citi's Record Third Quarter
PYMNTS.com· 2025-10-14 15:04
Citi’s Treasury and Trade Solutions (TTS) segment has become central to this shift, integrating blockchain, tokenization and programmable money for real-time, cross-border liquidity and payments.CEO Jane Fraser said AI, digital assets and tech investments are transforming Citi into a faster, smarter, more competitive bank.Citigroup CEO Jane Fraser’s multiyear effort to rebuild the once-sprawling bank into a leaner, technology-driven institution is beginning to deliver results.By completing this form, you ag ...
Why Citi believes blockchain is ‘here to stay’ on Wall Street
Yahoo Finance· 2025-10-09 14:00
When Satoshi Nakamoto introduced Bitcoin to the world in 2008, the pseudonymous coder envisioned his decentralized currency as a reaction to the financial crisis that had paralyzed the global economy. But nearly two decades later, the once renegade crypto industry has become increasingly intertwined with Wall Street. On the latest episode of Fortune’s Crypto Playbook (which you can find on Spotify, Apple, and YouTube), Citi’s head of enterprise digital assets, Artem Korenyuk, says that there’s increasing “ ...
Citi and Dandelion Aim to Streamline Cross-Border Payments
Crowdfund Insider· 2025-09-29 20:52
Core Insights - Citi and Dandelion have announced a collaboration to enhance cross-border payments through the integration of Citi's WorldLink Payment Services and Dandelion's digital wallet network [1] - The collaboration aims to provide near-instant, full-value payments into digital wallets globally, initially targeting the Philippines, Indonesia, Bangladesh, and Colombia, with plans for further expansion [1][1] - This solution addresses the growing need for business-to-consumer (B2C) payments, facilitating various transactions such as payroll, social benefits, and customer refunds [1][1] Company Overview - Citi's payments network processes over 11 million instant payments daily and handled nearly $380 billion in cross-border transaction volumes in 2024 [1] - The collaboration with Dandelion enhances Citi's WorldLink Payments Services, allowing cross-border payments in over 135 currencies through various methods, including traditional wires and instant payments [1][1] - Citi's WorldLink solution enables clients to send full-value, near-instant payments to over 150 digital destinations, including bank accounts and mobile wallets [1][1] Industry Impact - The partnership with Dandelion, which operates in over 63 countries, will extend Citi's reach into markets where digital wallets are prevalent [1][1] - By integrating Dandelion's network, businesses can achieve a more streamlined and secure method for disbursing funds directly into mobile wallets, enhancing the efficiency of financial transactions in digital economies [1][1]
美国银行 -链上观察:什么是代币化货币市场基金-US Banks_ On-Chain_ What is a tokenized Money Market Fund_
2025-08-14 02:44
Summary of Key Points from Conference Call Industry Overview - **Tokenization of Real World Assets**: The industry is witnessing a shift towards the tokenization of real-world assets such as stocks, bonds, bank deposits, and real estate. This transition is expected to take several years and will require significant infrastructure development. The goal is to enable 24/7 access, instant settlements, and enhanced liquidity through blockchain technology. For instance, the Dubai Land Department has launched a tokenized real estate platform aiming to digitize $16 billion of real estate by 2033, allowing for fractional ownership [1][1]. Company Initiatives - **BNY and Goldman Sachs Initiative**: BNY and Goldman Sachs have announced a collaboration to utilize blockchain technology for recording ownership of Money Market Funds (MMFs) through BNY's "LiquidityDirect" platform. This initiative will involve major asset management firms like BlackRock and Fidelity, creating mirror tokens of MMF shares to facilitate on-chain transferability and collateral use [2][2]. - **Citi's Digital Asset Strategy**: Citi has launched the Citi Integrated Digital Assets Platform (CIDAP) to leverage blockchain technology for digital asset solutions. The platform is designed to be blockchain agnostic and currently utilizes Hyperledger Besu. Citi's CEO emphasized the importance of Citi Token Services as a superior offering for corporate clients, highlighting its capabilities in processing billions of dollars in transactions [4][16]. Competitive Landscape - **Disruption Risks**: There are concerns regarding the potential disruption to Citi's transaction services business, which contributes approximately 40% to its bottom line, due to the rise of blockchain technology. However, Citi's familiarity with blockchain may mitigate some of these risks. Competition in corporate payments is expected to intensify, particularly with the introduction of Stablecoin accounts by Corpay [3][3]. Key Developments and Future Outlook - **Citi Token Services**: Citi is actively exploring multiple areas within the digital asset space, including stablecoin reserve management and tokenized deposits. The CEO noted that 88% of stablecoin transactions currently settle crypto trades, with only 6% used for payments. Citi aims to reduce transaction costs associated with moving between fiat and stablecoins, enhancing cross-border payment capabilities [16][17]. - **Regulatory Environment**: The CEO expressed enthusiasm for the GENIUS Act, which aims to create a level playing field for banks in the digital asset space. This regulatory support is seen as crucial for enabling banks to offer comprehensive multi-asset, cross-border solutions [16][17]. Additional Insights - **Citi's Client-Centric Approach**: The focus remains on meeting client demands for safe, efficient, and seamless financial solutions. Citi is committed to modernizing its infrastructure to support real-time payments and liquidity management, positioning itself as a leader in the digital asset space [16][17]. - **Collaboration with SDX**: Citi has partnered with SDX to tokenize private market securities, addressing challenges in traditional private markets and facilitating access to late-stage pre-IPO equities for institutional investors [15][15]. This summary encapsulates the key points discussed in the conference call, highlighting the evolving landscape of the banking industry in relation to blockchain technology and digital assets.
Payoneer Leverages Citi's Blockchain Technology to Enable 24/7 Global Intracompany Money Transfers
Prnewswire· 2025-08-12 12:00
Core Insights - Payoneer has partnered with Citi to launch real-time, blockchain-enabled treasury transfers, enhancing the speed, automation, and transparency of fund transfers across its global accounts [1][2][3] Group 1: Collaboration and Technology - The collaboration with Citi utilizes blockchain technology to modernize Payoneer's financial operations, reducing reliance on traditional payment methods and minimizing delays caused by banking cut-off times, holidays, and weekends [2][3] - Citi Token Services, launched in 2024, facilitates multimillion-dollar transactions and has processed billions in transaction value, providing 24/7 cross-border liquidity and payments [3] Group 2: Benefits and Efficiency - The new infrastructure is expected to simplify cross-border payments, offering real-time access and significantly improving efficiency for global clients [3] - Payoneer's integration of modern APIs and blockchain protocols allows for easy incorporation with existing treasury and payment systems, streamlining cash management and FX risk mitigation [5]
Jane Fraser: Citi Ready to Disrupt Itself With Tokenized Treasury Tools
PYMNTS.com· 2025-07-15 17:50
Core Insights - Citi reported record revenues in its Services and Markets segments, driven by cross-border activity, fixed income, and equities [1] - CEO Jane Fraser emphasized the bank's commitment to innovation, particularly through its Citi Token Services platform for real-time, blockchain-based treasury and liquidity management [1][4] Financial Performance - Citi's Services business posted record second-quarter revenues of $5.1 billion, an 8% increase year over year, with market share gains driven by a 7% rise in cross-border transaction value [8] - Markets revenue reached $5.9 billion, up 16% year over year, supported by strong performance in fixed income and equities, with a 27% year-over-year increase in the rates and currencies desk [9] - U.S. Personal Banking saw a 6% revenue growth, with branded cards and retail banking contributing to the momentum [9] Innovation and Digital Transformation - Citi is focusing on digital assets, with CEO Jane Fraser indicating a serious approach towards stablecoins and the bank's own Citi Token Services platform [3][4] - The bank has retired or replaced 211 legacy applications in the first half of 2025 and implemented an enterprise-wide strategic loan platform across multiple regions [12] - Citi's in-house autonomous development framework, Agentic AI, is now in production, and generative AI tools have seen a significant increase in usage [13] Client-Centric Developments - The Citi Token Services platform allows clients to move cash instantaneously, 24/7, across borders without incurring transaction fees associated with stablecoins [14] - The upcoming launch of Strata Elite, a premium card aimed at affluent consumers, is set for Q3, positioning Citi to compete with established products like AmEx Platinum and Chase Sapphire Reserve [9]
Citi(C) - 2025 Q2 - Earnings Call Transcript
2025-07-15 16:00
Financial Data and Key Metrics Changes - The company reported a net income of $4 billion and earnings per share of $1.96, with a return on tangible common equity (ROTCE) of 8.7% [4][19] - Revenues increased by 8% year-over-year, driven by growth across all business lines, with total revenues reaching $21.7 billion [4][19] - Net interest income excluding markets rose by 7%, while non-interest revenues, excluding markets, increased by 1% [20] Business Line Data and Key Metrics Changes - Services revenue grew by 8%, with a ROTCE of 23% for the quarter, driven by robust growth in loans and deposits [5][30] - Markets revenues increased by 16%, with fixed income revenues up 20% and equities revenues up 6% [6][31] - Investment banking fees rose by 13%, with M&A activity up 52% and equity capital markets (ECM) up 25% [33] - Wealth management revenues surged by 20%, with a pretax margin of 29% [35] - U.S. Personal Banking (USPB) revenues increased by 6%, driven by branded cards and retail banking [37] Market Data and Key Metrics Changes - The company experienced strong client activity in both fixed income and equities, with significant growth in prime services and derivatives [6][31] - The average loans increased by 3% across the firm, with a diversified deposit base also growing by 3% [25] Company Strategy and Development Direction - The company is focused on executing its strategy with discipline, improving performance and returns across its businesses while advancing their strategic positions [5][12] - Investments in digital assets and stablecoin infrastructure are being prioritized to enhance competitiveness and client offerings [13][86] - The company aims to achieve a ROTCE target of 10% to 11% next year, viewing it as a waypoint rather than a destination [18] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the resilience of the U.S. economy, driven by strong consumer activity and entrepreneurial spirit [15] - The company anticipates some macroeconomic uncertainties but remains optimistic about its trajectory and ability to deliver for clients [16] - The outlook for the full year has been adjusted to expect revenues around $84 billion, with net interest income excluding markets projected to rise closer to 4% [40] Other Important Information - The company returned over $3 billion in capital to shareholders, including $2 billion in share repurchases [9][10] - The CET1 capital ratio stood at 13.5%, significantly above regulatory requirements, with plans for continued share repurchases [10][27] Q&A Session Summary Question: Long-term return profile beyond 2026 - Management refrained from providing specific targets for 2027 but expressed confidence in the firm's strategy and performance across its business lines [45][46] Question: Revenue forecast for the second half of the year - Management acknowledged the seasonality in the second half and indicated that the forecast includes expected market softness [60][64] Question: Capital management and regulatory reforms - Management discussed the binding constraint of standardized CET1 and the ongoing assessment of capital buffers in light of regulatory changes [68][70] Question: Transformation costs and consent order - Management indicated that transformation costs are expected to increase in 2025 but will trend down in 2026, with ongoing efforts to improve operational efficiency [90][94]
Citi(C) - 2025 Q2 - Earnings Call Presentation
2025-07-15 15:00
Financial Performance - Citigroup reported revenues of $21.7 billion in 2Q25, an increase of 8% year-over-year[5] - Net income for 2Q25 was $4.0 billion, a 25% increase compared to 2Q24[5] - The Return on Tangible Common Equity (RoTCE) for 2Q25 was 8.7%, up from 7.2% in 2Q24[5] - Diluted Earnings Per Share (EPS) for 2Q25 was $1.96, a 29% increase year-over-year[5] Capital and Shareholder Returns - Citigroup's CET1 Capital Ratio was 13.5% in 2Q25[5] - The company returned approximately $3.1 billion to common shareholders through share repurchases and dividends in 2Q25[7] - The Board approved an increase to the common stock dividend to $0.60 per share starting in 3Q25, up from $0.56 per share[7] Business Segment Performance - Services revenues increased to $5.1 billion in 2Q25[9] - Markets revenues increased to $5.9 billion in 2Q25[9] - U S Personal Banking revenues increased to $5.1 billion in 2Q25[9]