Citi Token Services Adds Japan, UAE to 24/7 Liquidity Network
Citi's tokenised deposit service now covers seven markets after adding Japan and the UAE, letting corporate treasurers move USD and euro liquidity in real time on a private blockchain.
Citi has expanded its blockchain-based liquidity product, Citi Token Services, into Japan and the UAE, bringing the service to seven markets. The rollout lets corporate treasurers move USD and euro funds around the clock using tokenised deposits on a private-permissioned blockchain.
In Japan, the service supports USD transactions. The UAE addition covers both USD and euro. Citi already offered the product in the US, Ireland, Hong Kong, Singapore and the UK.
“Expanding Citi Token Services into Japan and the UAE is an important milestone in scaling our network and bringing 24/7 liquidity solutions to more of the markets where our clients operate,” said Stephen Randall, Global Head of Liquidity Management Services at Citi.
Kanika Thakur, Head of Services for Japan, Asia North and Australia, said the expansion “connects clients in the market to Citi’s growing 24/7 payments, collateral and liquidity solutions, enabling USD transactions to move in and out of Japan in real time and helping corporate and financial institutional treasurers put capital to work more efficiently.”
Citi described Japan and the UAE as strategically important markets because of their cross-border flows and status as major financial centres. The UAE, it said, is a gateway for trade and investment across the Middle East, Africa and South Asia and hosts a growing base of multinational treasury operations.
The expansion is part of a broader digital-assets strategy that includes investments in 24/7 USD clearing and connectivity with emerging multi-bank tokenised networks. Citi said the developments support its ambition to deliver interoperable, multi-currency liquidity and payment solutions.
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