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.