Major US financial conglomerate expands into digital asset space with new token service
In response to the growing demand for 24/7 programmable financial services, Citi Token Services will offer institutional clients a comprehensive range of solutions, including cross-border payments, liquidity management and automated trade finance services.One notable achievement of this service has been a successful pilot collaboration with key industry players, including a prominent shipping company, Maersk.
The technology demonstrated in this pilot program streamlines the entire process, ensuring that both buyers and sellers can enjoy instant payment capabilities. This advancement promises to reduce transaction processing times from several days to just a matter of minutes.In addition to its significant strides in trade finance, Citi Token Services has also been applied to a global cash management pilot program.
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