Citigroup CEO says he supports tokenized deposits, stresses market focus on stablecoins

Citigroup CEO Jane Fraser has explicitly stated that tokenized deposits, not stablecoins, will be the primary driver of the next generation of payments and financial market infrastructure. During the Q3 earnings call with investors, she stated that institutional clients are seeking low-cost, compliant, and seamless real-time cross-border funds flows, and that tokenized deposits are the best way to achieve secure, reliable, multi-bank interoperable, and always-on payment solutions.