Citibank plays with encryption ETF custody? Don't be too happy, this is just the "gentle assimilation" of financial giants.

Citigroup announced plans to provide stablecoin and encryption ETF custody and payment services, seemingly good news for the crypto world, but please remain calm: this is not the banks "falling in love with blockchain," but rather they have realized -- the money is here, and they are not foolish enough to miss out.

First, let's look at stablecoin payments. Stablecoins have long become the lifeline of the crypto world, especially USDT, which handles billions in global transfers daily with fast speeds and low costs, earning it the title of "shadow dollar." Why is Citibank eyeing it? Because cross-border clearing is the lifeblood of banks. If everyone uses USDT for transactions, then the traditional businesses of Citibank and Morgan will inevitably shrink. Instead of passively being beaten, it is better to proactively incorporate stablecoins into their own systems and take back the keys to the transfers.

Let's take a look at the encryption ETF custody. How popular is the ETF? Take the Bitcoin ETF as an example; once approved in the U.S., funds rush in wildly, with institutions scrambling for a piece of the pie. Here comes the problem: institutions have massive capital, and they need a "reliable accomplice"; otherwise, who is responsible if something goes wrong? Citibank jumps in, saying, "Don't worry, leave the money to me." This is the competition for interests hidden under the guise of safety.
But the problem is that the DNA of banks is not "decentralized", but "absolute".

"Control." They will provide you with security and compliance, but at the same time, they will take away your freedom and transparency. In other words, the "bankless world" that decentralization enthusiasts look forward to may ultimately still be wrapped up by banks.

From the user's perspective, if stablecoin payments are really promoted by Citibank, the experience will be smoother, and it may even be extended to mainstream e-commerce. However, this comes with comprehensive regulatory coverage and deep involvement from financial giants. In the future, when you transfer USDT, it's not just a record on the blockchain; there will also be bank approvals and KYC oversight.
In one sentence: Citigroup's entry is not a revolution, but a "gentle incorporation." When encryption ideals shake hands with traditional finance, who will lead the rules of the game? The answer goes without saying. #BTC ETF持仓破1530亿美元# #Gate七月透明度报告发布#