Jane Fraser, CEO of Citigroup (America’s third-largest bank with approximately $2.4 trillion in assets), endorsed the GENIUS Act during Q2 2025 earnings, calling for passage of this federal regulatory framework for stablecoins. The bank is actively exploring the issuance of a Citi-branded stablecoin, although its near-term priority remains tokenized deposits launched in late 2024. The GENIUS Act, which passed the US House of Representatives with a bipartisan vote of 308-122, would create licensing and reserve requirements for stablecoin issuers. Citigroup also plans to launch crypto custody services in 2026, and passage of this legislation could trigger a wave of bank-issued stablecoin announcements.
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