Key facts: Citigroup launches deposit tokenization service; Piper Sandler raises target to $130; KBW sees growth potential

Citigroup is launching a service for institutions to tokenize deposits, enabling fast money transfers globally and positioning the bank to benefit from the rise in asset tokenization.1Piper Sandler has increased the price target for Citigroup shares to $130.00, up from the previous target of $120.00.2KBW analysts see Citigroup as a major U.S. bank likely to gain from improved regulations and expected growth in net interest margins due to a steeper yield curve.3