SCB debuts Citi's 24/7 USD Clearing and Citi Token Services solution
Standard Chartered Bank (SCB) has officially integrated Citi’s 24/7 USD Clearing and Citi Token Services to enhance its cross-border payment capabilities. This collaboration allows SCB to leverage Citi’s institutional-grade blockchain-based solution, enabling near-instantaneous settlement of USD transactions around the clock. By utilizing Citi Token Services, SCB can facilitate programmable financial services and automated liquidity management, moving away from traditional batch-processing limitations. This integration marks a significant milestone for the RWA market as it demonstrates how major global banks are adopting tokenized deposits to improve operational efficiency and capital velocity. The move underscores a broader industry shift toward interoperable blockchain infrastructure for institutional treasury management. As traditional banking giants adopt these tokenized solutions, the friction associated with legacy correspondent banking networks is substantially reduced. This development signals increased institutional confidence in private, permissioned ledgers for high-value settlement processes.
- ▸SCB integrated Citi Token Services for 24/7 USD clearing and settlement.
- ▸Solution enables programmable financial services and automated liquidity management for institutional clients.
- ▸Integration replaces legacy batch-processing with near-instantaneous blockchain-based transaction settlement.
- ▸Collaboration highlights institutional adoption of tokenized deposits for global treasury operations.
Citi Token Services is a proprietary institutional blockchain solution that allows clients to tokenize deposits and trade finance instruments. It operates on a private, permissioned ledger, ensuring compliance and security while enabling 24/7 programmable payments. The platform is designed to integrate seamlessly with existing banking infrastructure to modernize cross-border liquidity.