According to Citi, institutional clients have a need for “always on”, programmable client services, which will be fulfilled by Citi Token Services’ round-the-clock services for cross-border payments and liquidity solutions.
Citi Treasury and Trade Solutions, on Sept 19, announced the creation and piloting of its token service, named Citi Token Services, to deliver digital asset solutions for the bank’s institutional clients.
Citi Token Services, which leverages blockchain and smart contract technologies, will integrate tokenised deposits into the bank’s global network and upgrade its core cash management capabilities. Clients will not be required to host a blockchain node to access these services.
