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Citigroup CEO says that there is a place for cryptocurrencies in the traditional financial system

Jane Fraser, CEO of Citigroup, recently indicated in an interview that the traditional financial system has a place for cryptocurrencies, so it could benefit from certain technological and financial benefits associated with these assets.

Citigroup CEO says that there is a place for cryptocurrencies in the traditional financial system

Citigroup CEO says that there is a place for cryptocurrencies in the traditional financial system

This was stated by Fraser during an interview conducted by Yahoo! Finance, in which she especially highlighted the benefits of digital currencies in terms of real-time payments, indicating that this will make them part of the financial markets in the future.

“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”.

And added:

“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.”

Considerations about the usefulness of cryptocurrencies and Blockchain technology for the traditional financial sector are a topic that has been on the table for some time.

Although the response of the financial sector has been more linked to the usefulness of Blockchain to strengthen operations, recently banks are showing more and more interest in incorporating support for cryptocurrencies into their products and services.

Read more:

“We see benefits from the digital asset space – instant processing, fractionalization, programmability and transparency,” Fraser commented

And added:

“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. ”

However, Fraser also indicated that they are doing this step by step, precisely because the digital currency sector is advancing very quickly and the emphasis is on that all integration takes place in the best possible terms:

“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.”

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