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Techub News, according to Tech in Asia, Citigroup has updated its research views on digital asset-related stocks following the recent sharp decline in the cryptocurrency market. The analyst team stated that despite increased volatility in crypto asset prices, they remain positive about the industry's medium to long-term prospects and maintain a $243 target price for Circle. Data shows that Circle's closing price this Friday was $86.13, indicating a significant gap from the target price set by Citigroup.
Techub News, according to Bloomberg, Citigroup and Coinbase Global announced a partnership to develop stablecoin payment services for corporate clients, aiming to enhance the application of digital assets within the traditional financial system. Against the backdrop of regulators' continued warnings about digital asset risks over the years, this collaboration marks a significant step for Wall Street giants in the field of crypto payments. The future services will cover cryptocurrency-to-fiat conversions, fiat-to-cryptocurrency purchases, and cross-border payment scenarios, aiming to simplify the fund conversion process for Citigroup's corporate clients and promote the adoption of stablecoins as payment and settlement tools.
Techub News: According to CoinDesk, Citi lowered the price target for Gemini, which has a Neutral rating, while raising the price target for Bullish, which has a Buy rating. The Citigroup analyst team noted that although Gemini performs strongly in credit card registrations and app downloads, its trading volume growth remains below expectations, requiring more time to realize its growth potential, hence the Neutral rating is maintained. In comparison, Bullish has obtained New York BitLicense approval, institutional access is expanding, and its development momentum is accelerating.
Techub News, according to CNBC, Citi Ventures, the venture capital arm of Citigroup, has invested in stablecoin infrastructure company BVNK. The company declined to disclose the investment amount from Citi or its current valuation. However, BVNK co-founder Chris Harmse stated in an interview with CNBC that its valuation is higher than the publicly disclosed $750 million from the previous funding round. BVNK's core technology is essentially a payment rail designed to facilitate global stablecoin transactions, allowing customers to transfer funds from fiat currency to cryptocurrency and back again. Clients can use BVNK's technology to pay suppliers, contractors, or merchants in other countries. Harmse mentioned that the company is seeking to expand its customer base to include digital-only banks or new types of banks that might use stablecoins in their core checking accounts.
Techub News reports that Citibank (Citi) has announced the extension of its blockchain-based token service to Japan, providing institutional clients with 24/7 dollar transfer services. This move comes just as Japanese banks and companies are building stablecoins for some of the same payment purposes. (Crypto.news)
Techub News reports, according to CoinPost, Citigroup has lowered its price expectations for Bitcoin and Ethereum due to stalled U.S. cryptocurrency legislation. The most likely scenario target price for Bitcoin over the next 12 months has been reduced from $143,000 to $112,000; Ethereum from $4,304 to $3,175. In a pessimistic scenario, Bitcoin could fall to $58,000, Ethereum to $1,198; in an optimistic scenario, Bitcoin could reach $165,000, Ethereum $4,488.
Techub News reports, according to Crowdfund Insider, Citigroup announced plans to launch a bitcoin custody solution for institutional clients in late 2026, directly embedding bitcoin into its core banking operations. The new platform will extend traditional tax reporting, regulatory compliance, and risk management processes to bitcoin holdings, enabling investors to manage bitcoin positions like stocks or bonds within a unified system. The platform supports 7×24 operation, SWIFT global transfers, and API connectivity, designed for institutional participants such as pension funds and insurance companies; Citigroup will build its own technology stack, including the Citi Integrated Digital Assets Platform, initially launching core custody functions and gradually expanding to advanced services like enhanced asset segregation and collateral management.
Techub News reports, according to Bitcoin Magazine, Nisha Surendran, head of Citibank's digital asset custody business, stated at the "Strategy World" event hosted by Strategy that the bank plans to launch infrastructure integrating Bitcoin into the banking system. Nisha said, "Later this year, Citi will launch infrastructure that integrates Bitcoin into traditional finance. We will first provide core custody capabilities, institutional-grade key management, and wallet infrastructure."
Techub News, Citibank announced the completion of a pilot for Payment-versus-Payment (PvP) settlement processes between fiat currency and digital currency with Swift, validating the feasibility of interoperability between traditional financial systems and distributed ledger networks.
Techub News, according to CNBC, Biswarup Chatterjee, Global Head of Partnerships and Innovation for Citi's Services business, stated that as Wall Street giants increase their presence in the digital currency sector, the bank plans to launch cryptocurrency asset custody services in 2026. Significant progress has been made in development over the past two to three years, and the bank aims to offer reliable and trustworthy custody solutions to clients such as asset managers in the coming quarters. For the upcoming custody service, Citi will hold the native cryptocurrencies. Currently, the bank is considering developing its own custody technology while also exploring partnerships with third parties. Chatterjee also noted that in regions with underdeveloped banking and payment systems, stablecoins could be attractive. As Citi expands its client base into these countries and interacts with local suppliers and clients, products similar to stablecoins might be feasible. However, the bank is still in the early stages of exploring stablecoins.
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