SCB rolls out 24/7 USD clearing in Thailand with Citi Token Services

Siam Commercial Bank (SCB) has partnered with Citi to implement 24/7 USD clearing services, facilitating near real-time cross-border payments for its clients. By integrating Citi Token Services, which operates on a private permissioned blockchain, SCB enables continuous USD transaction capabilities regardless of traditional banking hours. This initiative leverages Citi's 24/7 clearing network, which currently connects more than 300 financial institutions across over 50 global markets. The adoption of this technology marks a significant shift for Thailand's oldest commercial bank toward modernizing its international payment infrastructure. For the RWA market, this development underscores the growing institutional reliance on private blockchain solutions to enhance liquidity and settlement speed in cross-border finance. By removing the friction of traditional clearing cycles, the collaboration sets a precedent for how legacy banking institutions can utilize tokenized services to improve capital efficiency. This integration demonstrates a practical application of blockchain technology in streamlining high-volume, multi-currency institutional settlements.