Citi Expands Tokenized Deposit Service to Japan and UAE
The rollout brings Citi Token Services to seven markets, enabling near-instant, 24/7 cross-border transfers backed by bank deposits.
Citi expanded its enterprise tokenized-deposit service to Japan and the United Arab Emirates on Sept. 28, extending near-instant, 24/7 cross-border payment access across seven markets.
Japanese clients can use Citi Token Services to move U.S. dollars nearly instantly to accounts in the United States, the United Kingdom and Singapore, including outside traditional banking hours and holidays.
The service represents bank deposits as digital tokens and processes transfers on a permissioned blockchain operated by Citi. Clients do not need to open new accounts or manage a crypto wallet.
The rollout expands Citi Token Services’ coverage to seven markets, including Japan and the UAE.
