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Citi Integrates Blockchain for Near-Instant Cross-Border Payments
Citi Integrates Blockchain for Near-Instant Cross-Border Payments
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BTCCSquare news:
Citigroup has expanded its blockchain-based Citi Token Services, integrating it with the bank's 24/7 USD Clearing solution to enable near-instant cross-border payments and liquidity management for institutional clients. The MOVE leverages a private, permissioned blockchain to tokenize cash and trade finance solutions within Citi's ecosystem, aiming to reduce friction in global money transfers.
"Global commerce doesn’t take weekends off and neither should payments," said Debopama Sen, Citi’s Head of Payments. The integration addresses long-standing liquidity management challenges for treasurers and banks operating across multiple geographies.
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