Citigroup (C) to Redeem $2.5 Billion Notes, Explores Stablecoin Custody Services

Citigroup Inc. (NYSE:C) ranks among the best diversified bank stocks to invest in right now. On August 22, Citigroup Inc. (NYSE:C) stated that it is looking to redeem $2.5 billion in notes due in 2025 as part of its liability management strategy. This redemption will include $1.75 billion in fixed-rate notes and $750 million in floating-rate notes, featuring a redemption price set at par along with accrued interest.

The company’s financial health was also confirmed by Fitch Ratings, which has maintained Citigroup’s long-term issuer default rating at “A” with a stable outlook.

In a separate vein, the bank is investigating stablecoin custody services as part of its cryptocurrency expansion, joining other significant financial institutions in this attempt. This comes after Washington lawmakers recently passed legislation that makes stablecoins easier to utilize for a range of financial services.

Citigroup Inc. (NYSE:C) provides a wide range of financial services to individuals, organizations, and governments. The bank operates through its Services, Markets, Banking, US Personal Banking, and Wealth sectors.

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