Leveraging a private-permissioned blockchain, the solution enables clients to move funds near instantly across Citi’s global network, supporting more efficient liquidity and collateral management and cross-border payments. By expanding additional regions and currencies, Citi continues to provide clients with always-on liquidity and payment capabilities that help overcome banking cut-off times and time zone limitations. Citi Token Services is live in the United States, Ireland, Hong Kong, Singapore, the United Kingdom, UAE, and Japan.
"Expanding Citi Token Services into the UAE and Japan is an important milestone in scaling the network and bringing 24/7 liquidity solutions to more of the markets where our clients operate," said Stephen Randall, the Global Head of Liquidity Management Services.
"These are significant financial centers with substantial cross-border flows and connecting them to Citi Token Services gives clients greater optionality to move and manage liquidity across regions and currencies in real-time," he stated.
Together with Citi’s broader investments in 24/7 USD Clearing and connectivity with emerging multi-bank tokenized networks, the expansions advance the ambition of Citi to deliver increasingly interoperable, multi-currency solutions across liquidity management and payments.
"Expanding Citi Token Services into the UAE with USD and Euro capabilities enables clients to manage cross-currency liquidity 24/7, which is key to connecting the local ambitions of our corporate and financial institutional clients with their global expansion," said Rizwan Shaikh, Head Services for Middle East & Africa. "This positions Citi to deepen relationships and optimize liquidity in and out of the region.”
The Middle East is one of the world’s fastest growing real-time payments economies, making the UAE a strategic market for the expansion of Citi Token Services.
As a major financial hub and gateway for trade and investment across the Middle East, Africa and South Asia, UAE supports significant cross-border flows and a growing base of multinational treasury operations.
Kanika Thakur, Head of Services for Japan, Asia North and Australia, said: "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."
As the world’s fourth largest economy, and a significant global liquidity center, Japan is a strategically important market for Citi, with substantial cross-border flows driven by multinational corporations and financial institutions.-TradeArabia News Service
