To be a Citigroup shareholder today, you need to believe in the company's global banking reach, its ability to benefit from rising cross-border transaction volumes, and that ongoing digital transformation will keep its competitive edge in payments and transaction banking. While Citigroup's wave of new, multi-currency fixed-income offerings in late July 2025 highlights prudent funding and liquidity management, the immediate impact on the key short-term catalyst, growth in cross-border transaction services, appears limited. The biggest risk remains regulatory scrutiny and associated transformation costs, with the latest debt moves unlikely to alleviate this pressure in the near term.