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>>Citigroup gets set to roll out stablecoin payments after the GENIUS Act is approved

Citigroup gets set to roll out stablecoin payments after the GENIUS Act is approved

crypthub

3 days ago

Citi launches stablecoin payment service

Citi is set to become one of the first major banks to offer stablecoin payments. The bank has partnered with Coinbase to create solutions that move funds between fiat and crypto. Payments head Debopama Sen says corporate clients want faster, programmable, 24/7 options. Citi is exploring on‑chain stablecoin transactions to broaden digital payment functionality.

Regulatory framework and industry competition

The rollout follows the U.S. GENIUS Act, which will provide a legal basis for stablecoin issuance by 2027. Other Wall Street firms such as JPMorgan and Bank of America are also testing stablecoin services. JPMorgan’s CEO Jamie Dimon, once critical of crypto, now confirms the bank will enter the sector, highlighting a broader industry shift.

Market outlook and investor enthusiasm

Citi recently upgraded its stablecoin market forecast to as much as $4 trillion by 2030, up from today’s $315 billion valuation. The sector’s growth accelerated from under $5 billion in 2020 to over $315 billion now. Circle’s IPO boosted interest, with USDC shares soaring 167% and a $35 billion market cap, underscoring rising institutional confidence.