William Demchak, CEO of PNC ($77b bank), dropping that he expects a US bank consortium stablecoin post the Genius Act during earnings tonight Heard similar sentiment yesterday (see QT below) at Citi's earnings w/ a multi-bank sponsor stable. Really sounds like we have serious stablecoin chatter going down behind the scenes across US financial institutions
Omar
Omar16.7. klo 08.32
TLDR - Citi's Stablecoin + Crypto Plans from earnings: - Citi clients want real-time multi-asset, multi-bank, x-border solution w/ compliance, accounting all solved - Citi Looking at 4 areas: ramps (fiat <-> crypto), reserve management, own stablecoin + tokenized deposits - Citi Token Services: will let client move assets from NY -> HK -> UK instantly w/out incremental tx costs of going fiat to digital and back. Will also provide financing and liquidity - On a Zelle style bank consortium w/ BoA + JPM: need Genius Act for regulatory clarity
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