Citigroup is considering offering custody services for stablecoins and crypto ETFs, with a focus on secure storage of assets backing regulated digital products. The bank aims to provide custody for high-quality assets linked to stablecoins and crypto ETFs such as BlackRock’s IBIT, which manages over $90 billion. Biswarup Chatterjee, global head of partnerships and innovation, confirmed stablecoin custody as the initial priority. Citigroup plans to adopt security standards equal to or exceeding those of leading crypto ETF custodians and verify asset legitimacy before acquisition. The bank also explores using stablecoins for faster global payments, leveraging its existing tokenized U.S. dollar payment system. This move comes amid new regulatory clarity under the Trump administration and follows similar actions by JPMorgan and PNC Bank, which have partnered with Coinbase. Ripple has also partnered with BNY Mellon for RLUSD stablecoin custody, positioning Citigroup among key institutions advancing stablecoin and crypto ETF infrastructure.

New York Attorney General Letitia James has filed a lawsuit against Early Warning Services (EWS), the parent company of the Zelle digital payment network, alleging that design oversights and lack of anti-fraud safeguards enabled fraudsters to steal over $1 billion from 2017 to 2023. The lawsuit claims that EWS, co-owned by major U.S. banks including Bank of America, Capital One, JPMorgan Chase, PNC Bank, Truist, U.S. Bank, and Wells Fargo, failed to implement basic fraud prevention measures despite knowing that features like quick registration and limited transaction verification made the platform vulnerable. The complaint alleges that these flaws allowed scammers to use false email addresses and infiltrate the system, causing 'catastrophic harm' to millions of consumers. EWS launched Zelle in 2017, which now serves 151 million users. In response, a Zelle spokesperson labeled the lawsuit a 'political stunt' and a 'copycat' of a similar case filed by the Consumer Financial Protection Bureau, which was dismissed in March. The lawsuit seeks restitution, damages for New Yorkers affected, and a court order mandating ongoing anti-fraud protections.

Oracle Cloud ERP integrates PNC Bank's PINACLE Connect® embedded banking platform, enabling PNC's corporate and commercial banking clients to access treasury services directly within Oracle Cloud ERP. This integration streamlines financial operations by reducing the need for multiple platforms, automating manual processes, and enhancing efficiency. Oracle Cloud ERP supports enterprise finance capabilities including financials, accounting hub, procurement, project management, and risk management.

The Indian government has issued revised guidelines for establishing Hydrogen Valley Innovation Clusters (HVIC) and Green Hydrogen Hubs under the National Green Hydrogen Mission. Additionally, the Ministry of Power launched the INR 1,000-crore ADEETIE scheme to support energy efficiency in MSMEs, while NTPC was granted INR 20,000 crore investment powers for its renewables arm. Key projects include Jinko ESS delivering 68 units of solar storage, Alpex Solar's 300 MW solar cell deal, and Juniper Green Energy's 250 MW FDRE project. Multiple companies secured renewable energy contracts, including Reliance and KPI Green Energy.

Applied Industrial Technologies (AIT) extended its accounts receivable securitization facility maturity from August 4, 2026, to July 10, 2028, through an amendment to the Receivables Financing Agreement. The transaction involved AIT Receivables LLC as borrower and PNC Bank as administrative agent, with customary fees paid by AIT Receivables to lenders. AIT maintains a 'Buy' rating with a $305 price target and is rated 'Outperform' by Spark, TipRanks’ AI Analyst. The company highlights strong financial performance, robust cash generation, and strategic initiatives amid macroeconomic challenges.