Key insights

• 💰 💰 City Bank is committed to enhancing cryptocurrency services, including stablecoin support, to improve client financial management and strengthen its competitive edge.
• 🚀 🚀 Major financial institutions like City Bank are adopting cryptocurrency for tokenized deposits and cross-border liquidity solutions, while navigating regulatory challenges.
• 🏦 🏦 City Bank is cautiously integrating Ripple's technology for digital assets but developing its own solutions due to ongoing litigation.
• 📈 📈 City Bank collaborates with Medico to pilot custodial services for secure storage of digital assets like tokenized securities, bonds, and cryptocurrencies.
• 📈 📈 As the fourth largest custodian bank globally, City is investigating digital asset custody beyond regulated products while anticipating a gradual transition.
• 🌐 🌐 City is forming partnerships with tokenized asset custody systems to enhance its digital asset platform, exploring multiple solutions.
• 🚀 🚀 The Regulated Liability Network (RLN) aims to create a shared blockchain-based infrastructure for financial instruments and real-time settlements.
• 💼 💼 City Bank's collaboration with various projects positions it to address future challenges in digital asset management while maintaining compliance.

Q&A

• What partnerships is City Bank forming to enhance its digital asset platform? 🌐

  City Bank is partnering with various tokenized asset custody systems, including collaborations with entities like DTCC, Wellington, and Wisdom Tree. Their strategy involves exploring multiple solutions rather than committing to a single route to ensure a comprehensive digital asset platform.

• What is the Regulated Liability Network (RLN)? 🌐

  The Regulated Liability Network (RLN) aims to create a shared, blockchain-based infrastructure for financial instruments and real-time settlement. This network will represent digital assets as tokenized liabilities on a distributed ledger, ensuring regulatory compliance while enhancing financial transaction efficiencies.

• Is City Bank exploring custody for digital assets beyond traditional offerings? 📈

  Yes, City Bank is exploring digital asset custody beyond regulated products, looking into decentralized finance (DeFi) and tokenized assets. However, they anticipate a gradual transition as they continue to test pilot projects like their collaboration with Medico.

• What services are being piloted with Medico? 📈

  City Bank is collaborating with Medico to pilot custodial services for digital assets. This pilot focuses on the secure storage and management of tokenized securities and cryptocurrencies within City Bank's global custody network.

• What role does Ripple play in City Bank's digital asset strategy? 🏦

  City Bank is cautiously integrating Ripple's technology into its digital asset infrastructure, while simultaneously developing its own solutions. The bank is aware of ongoing litigation related to Ripple, which influences their cautious approach.

• How is City Bank addressing cross-border liquidity? 🚀

  City Bank is focusing on tokenized deposits and cross-border liquidity solutions. This involves creating efficient mechanisms for quick transfers and meeting the demand for cross-bank liquidity solutions rather than relying solely on specific bank tokens.

• What is City Bank's commitment to cryptocurrency? 💰

  City Bank is dedicated to offering cryptocurrency services, including support for stablecoins. They aim to enhance their clients' financial management by providing robust on and off-ramps for cryptocurrencies and focusing on multi-border and multi-asset capabilities.

• 00:00 The City Bank CFO emphasizes the institution's commitment to providing cryptocurrency services, including stablecoin support, enhancing client financial management, and expressing confidence in their competitive advantage. 💰
• 01:22 Major financial institutions, like City Bank, are increasingly adopting cryptocurrency, focusing on tokenized deposits and cross-border liquidity solutions while navigating regulatory frameworks. 🚀
• 02:47 City Bank is integrating Ripple's technology for digital assets but is cautious due to ongoing litigation. They are developing their own solutions alongside other partners like Digital Assets Integrated and Medico, while facing some internal conflicts with the cryptocurrency industry. 🏦
• 04:15 City Bank collaborates with Medico to pilot custodial services for digital assets, focusing on secure storage and coordination of tokenized securities and cryptocurrencies. 📈
• 05:35 City, a major custodian bank, is exploring digital asset custody beyond regulated products, including DeFi and tokenized assets, but the transition may be gradual. 📈
• 07:03 City is forming partnerships with various tokenized asset custody systems to enhance their digital asset platform while exploring multiple solutions. The regulated liability network (RLN) aims to create a shared, blockchain-based infrastructure for financial instruments and real-time settlement while maintaining regulatory compliance. 🌐