SCB taps Citi for tokenised cross-border payments

Siam Commercial Bank (SCB) has partnered with Citi to pilot a tokenized cross-border payment solution aimed at enhancing the efficiency of international fund transfers. By leveraging Citi’s digital asset capabilities, SCB intends to streamline liquidity management and reduce the settlement times typically associated with traditional correspondent banking networks. This initiative utilizes blockchain technology to facilitate near-instantaneous, 24/7 cross-border transactions, addressing long-standing friction in global financial infrastructure. The collaboration marks a significant step for SCB in integrating programmable money into its institutional treasury operations. For the broader RWA market, this development underscores the growing institutional appetite for tokenized deposits and programmable settlement layers. As major banks like Citi continue to provide the underlying infrastructure for these digital assets, the barrier to entry for cross-border tokenized settlements is rapidly lowering. This shift signals a transition toward a more interconnected, blockchain-based global payment ecosystem that prioritizes speed and transparency.