Citi Launches Crypto Platform For Institutional Clients | Bitcoinist.com
The Citi Token Services was released by the bank’s Treasury and Trade Solutions (TTS) with several new crypto capabilities and features....
- Citi has launched a new crypto and blockchain-based platform called Citi Token Services for its institutional clients.
- The platform aims to provide access to smart contracts and blockchain technology, addressing the demand for "tokenized deposits" and integrating these technologies into Citi's global network.
- The goal is to upgrade cash management and trading features for clients, offering advantages such as cross-border payments, programmable financial services, and automated trading solutions.
- The platform was developed by Citi's Treasury and Trade Solutions (TTS) in collaboration with logistics company Marks, IBM, and other major companies.
- During the pilot phase, the platform successfully enabled instant payment settlement on the blockchain using tokenized assets.
- Citi plans to continue hosting the blockchain nodes required to run its blockchain and develop digital asset solutions.
- The banking institution has been actively investing in blockchain and crypto, creating over 100 roles in the sector.
The sentiment of the article is generally positive, highlighting Citi's efforts to embrace crypto and blockchain technology to enhance its services for institutional clients. The success of the pilot phase and the collaboration with industry partners are seen as promising developments.