Citi exec says fragmented crypto systems risk repeating old banking problems
CoinDesk
Citi's Ryan Rugg warns that siloed tokenized money systems fail to meet corporate demand for seamless, multi-bank payment interoperability.Summary
Ryan Rugg, Citigroup's head of digital assets for treasury and trade solutions, argues that tokenized money will fail if it remains trapped in closed, single-bank networks. Large corporate clients require multi-bank, real-time payment capabilities rather than isolated proprietary tokens. While blockchain offers a path toward faster global transfers, the industry is currently fragmented by competing, incompatible standards. Rugg emphasizes that success requires shared industry infrastructure—modeled after systems like Swift—and robust legal frameworks to ensure mainstream adoption and efficiency.
(Source：CoinDesk)