WHERE CITI STANDS ON THE LIBRA PROJECT

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The Libra Association is meeting in Geneva to review a charter and appoint a board of directors. But with big backers like Mastercard, Visa, PayPal and eBay abandoning the project, the question now is how big banks are approaching the digital currency. Citi’s Chief Innovation Officer Vanessa Colella is taking a cautious approach: “As banks we are custodians of a safe and sound financial system.” In her view, Citi is not “jumping on” in any sense, because what the company needs to do should be both forward-looking and prudent.
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