The product — known as Citi Token Services — will transform customers’ deposits into digital tokens that can be sent instantly anywhere in the world. The service is housed in the firm’s treasury and trade solutions division, which has so far focused on using it to improve cash-management and trade-finance capabilities.
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Citigroup debuts token service in latest foray into digital assets
“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,” Shahmir Khaliq, global head of the company’s services division, said in the statement.
