Crypto
Citigroup Expands Blockchain Cash Platform to Japan and UAE
Citigroup has expanded its blockchain-based cash and liquidity platform, Citi Token Services, into Japan and the UAE. The service is now live in seven markets worldwide, including the US, Ireland, Hong Kong, Singapore, the UK, Japan, and the UAE.
The platform uses tokenized deposits and blockchain technology to enable programmable, near-instantaneous movement of liquidity. It supports cross-border payments, liquidity management, and collateral management.
Citi said that its clients in Japan can now move USD into and out of the country in real time, while UAE clients can manage both USD and euro liquidity 24/7.