Citi has expanded its blockchain-based liquidity product, Citi Token Services, into Japan and the UAE, extending its 24/7 liquidity and payment capabilities across more markets.
The service uses tokenised deposits and a private-permissioned blockchain to enable programmable, near-instantaneous movement of liquidity across Citi’s global network.
It supports USD transactions in Japan, while the UAE rollout covers both USD and Euro transactions.
The expansion brings Citi Token Services to seven markets globally, joining the US, Ireland, Hong Kong, Singapore and the UK.
Citi said Japan and the UAE are strategically important markets due to their substantial cross-border flows and roles as major financial centres.
“Expanding Citi Token Services into Japan and the UAE is an important milestone in scaling our network and bringing 24/7 liquidity solutions to more of the markets where our clients operate,”
said Stephen Randall, Global Head of Liquidity Management Services at Citi.
The Japan expansion enables USD transactions to move in and out of the country in real time, supporting corporate and financial institutional treasurers in managing liquidity more efficiently.
In the UAE, the service adds USD and euro capabilities, allowing clients to manage cross-currency liquidity around the clock.
Citi said the UAE is a major financial hub and gateway for trade and investment across the Middle East, Africa and South Asia. The market also has significant cross-border flows and a growing base of multinational treasury operations.
“The expansion of Citi Token Services into Japan connects clients in the market to Citi’s growing 24/7 payments, collateral and liquidity solutions, enabling USD transactions to move in and out of Japan in real time and helping corporate and financial institutional treasurers put capital to work more efficiently,”
said Kanika Thakur, Head of Services for Japan, Asia North and Australia.
The expansion forms part of Citi’s broader digital assets strategy. This includes investments in 24/7 USD Clearing and connectivity with emerging multi-bank tokenised networks.
The bank said these developments support its ambition to deliver increasingly interoperable, multi-currency solutions across liquidity management and payments.
Featured image credit: Edited by Fintech News Hong Kong, based on image by ilygraphic via Magnific
