Crypto To Become Part Of Future Financial System, Citigroup CEO Says

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Crypto is gaining more and more popularity these days, and during 2020 and 2021, when the world saw one of the biggest crises of our generation, digital assets turned out to be highly resilient.

Now, Citigroup is making headlines after the CEO had something important to say.

Cryptos will be present in the traditional financial system

Citigroup’s CEO Jane Fraser says there is a place for cryptos in the traditional financial system.

During a Yahoo Finance interview, Fraser says that digital assets provide benefits in the area of real-time payments.

“It’s clear that digital assets will be part of the financial services and financial markets, the future of them. We already see clients very active in the space.”

Fraser continued and said the following:

“Real-time payments, both in the sense of they’re [being] frictionless, they’ll become more global, they’ll become ubiquitous. Real-time payments will be here in the near term, and digital currencies may be part of that future. We see benefits from the digital asset space – instant processing, fractionalization, programmability and transparency.”

Fraser also explained that she is currently working on building the infrastructure that is necessary for enabling real-time payments.

“For me as a CEO, I’m working to connect our clients to wallets. We’re enabling our businesses and our corporate clients to accept consumer payments. We’re building the infrastructure for retail real-time payments.”

She continued and highlighted the following:

“But we’re doing so cautiously, because the space is moving so quickly and not all the guard rails that you would like to see are yet in place.”

The Citigroup CEO made sure to highlight the fact that the firm is approaching crypto assets with “appropriate caution” to protect clients.

Bitcoin in the crypto market

An important crypto analyst and trader, Benjamin Cowen, is checking out the price level for Bitcoin that could indicate the fact that bulls are in control.

Cowen told his followers that if Bitcoin closes above the $60k weekly chart, this will show the fact that the king coin has found strong support.

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