According to @StockMKTNewz citing Bloomberg, Citigroup ticker $C and Coinbase ticker $COIN are collaborating to expand digital asset and stablecoin payment capabilities for the bank’s corporate clients, source: Bloomberg via @StockMKTNewz. The initial scope focuses on exploring easier conversions between crypto and fiat for Citi’s institutional clients, including cross-border transactions, source: Bloomberg via @StockMKTNewz. For traders, the directly linked tickers are $C and $COIN, with the initiative explicitly centered on stablecoin payments and institutional crypto to fiat rails, source: Bloomberg via @StockMKTNewz.

According to Crypto Rover, DekaBank, one of Germany's largest banks, is launching crypto trading and custody services targeting institutional clients. This move is expected to significantly enhance institutional participation in the cryptocurrency market, potentially increasing trading volumes and liquidity. The introduction of such services by a major financial institution could lead to heightened market activity and foster greater trust in digital assets among institutional investors.

According to André Dragosch, PhD, DekaBank, the asset manager for the German Savings Banks Finance Group, is now engaging in the buying and selling of cryptocurrencies. This service is currently available only to institutional clients, potentially impacting institutional strategies and liquidity in the crypto market (source: Bloomberg).