Citi to Integrate Tokenised Deposits and Smart Contracts in its Global Network
(20 September 2023 - Global) Citi Treasury and Trade Solutions (TTS) is piloting Citi Token Services for cash management and trade finance.
The service uses blockchain and smart contract technologies to deliver digital asset solutions for institutional clients.
Citi Token Services will integrate tokenised deposits and smart contracts into Citi’s global network. This move is expected to upgrade the bank’s core cash management and trade finance capabilities.
“The development of Citi Token Services is part of our journey to deliver real-time, always-on, next-generation transaction banking services to our institutional clients,” said Shahmir Khaliq, Global Head of Services, commenting on the pilot.
“This development goes hand-in-hand with our industry-leading work on the Regulated Liability Network to create interoperable digital asset solutions on a multi-bank basis,” Khaliq added.
Subscribe