Citi Develops New Digital Asset Capabilities For Institutional Clients
Portfolio Pulse from Benzinga Newsdesk
Citi Treasury and Trade Solutions (TTS) has announced the creation and piloting of Citi Token Services, a service that uses blockchain and smart contract technologies to deliver digital asset solutions for institutional clients. The service will integrate tokenized deposits and smart contracts into Citi's global network, enhancing cash management and trade finance capabilities. The technology was tested in collaboration with Maersk and a canal authority to digitize a solution that serves the same purpose as bank guarantees and letters of credit in the trade finance ecosystem.

September 18, 2023 | 1:02 pm
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Citi's new blockchain-based service, Citi Token Services, is expected to enhance its cash management and trade finance capabilities, potentially attracting more institutional clients and improving its competitive position in the market.
The creation of Citi Token Services represents a significant step for Citi in leveraging blockchain technology to enhance its services. This could potentially attract more institutional clients who are seeking advanced digital asset solutions, thereby improving Citi's competitive position in the market. The successful pilot with Maersk also demonstrates the practical applicability and effectiveness of the service, which could further boost investor confidence in Citi.
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