Citibank customers to get digital tokens for their deposits under Citi Token Services
FXstreet
18 Sep 2023 9:00 PM
Citibank has announced a new product christened Citi Token Services under the Citi Treasury and Trade Solutions (TTS), as parts of its cash management...
- Citigroup Inc. is launching a digital token service based on blockchain technology.
- The service will allow customers to transfer liquidity between Citi branches 24/7 without the need for digital wallets.
- The new feature, called Citi Token Services, aims to upgrade core cash management and trade finance capabilities for institutional clients.
- The service will turn customers' deposits into digital tokens for instant global transfer.
The article highlights Citigroup's move into digital assets and the potential benefits for customers. The sentiment is generally positive, emphasizing the convenience and efficiency of the new service.
You May Ask
What is Citigroup's new digital token service called?How will customers be able to transfer liquidity between Citi branches?Who is the target audience for the new service?What technology is being used to enable instant global transfers?How does the involvement of the Federal Reserve impact the adoption of digital assets by traditional financial institutions?