Citi Launches Citi Token Services in Japan, Offering 24/7 Cross-Border Dollar Transfers
RWA Signal Insight
InfrastructureCitigroup has officially expanded its Citi Token Services to corporate clients in Japan and the United Arab Emirates, enabling near-real-time cross-border payments using tokenized deposits. This service allows institutional users to transfer US dollars 24/7, 365 days a year, bypassing traditional banking hours and holiday constraints. By utilizing a permissioned blockchain managed internally by Citi, the bank eliminates the need for clients to manage separate crypto wallets or open new accounts. The expansion brings the total number of markets supported by the service to seven, including the US, Ireland, Hong Kong, Singapore, and the UK. This development is significant for the RWA market as it demonstrates the practical application of tokenized deposits to streamline global liquidity management and reduce the need for pre-positioned capital. Furthermore, Citi announced an expanded partnership with Coinbase to facilitate the settlement of stablecoin payments into fiat currency for US corporate clients. These initiatives collectively signal a major shift toward blockchain-based infrastructure for traditional institutional treasury operations.
Key points
- Citi Token Services expanded to Japan and the UAE, reaching seven total global markets.
- Tokenized deposits enable 24/7 near-real-time cross-border US dollar transfers for corporate clients.
- Permissioned blockchain infrastructure removes the requirement for external crypto wallets or new accounts.
- Citi partnered with Coinbase to support corporate stablecoin-to-fiat settlement in the US.
Background
Citi Token Services is a proprietary institutional blockchain platform developed by Citigroup to digitize bank deposits and trade finance processes. It operates on a private, permissioned ledger that integrates directly with existing corporate banking systems to ensure regulatory compliance and security. The platform aims to modernize legacy payment rails by enabling programmable, instantaneous value transfer across global borders.