Citigroup (NYSE:C) has launched a fully integrated 24/7 USD Clearing and Citi Token Services platform for real time global payments. The first live transaction was completed with The Siam Commercial Bank, enabling instant cross border USD transfers at any time, including weekends and holidays. The service uses a permissioned blockchain within Citi’s regulated network to support always on settlement for corporate and institutional clients. Citigroup sits at the center of global transaction...
- Citigroup has launched a 24/7 USD Clearing and Citi Token Services platform, enabling real-time global payments via a permissioned blockchain.
- The service, piloted with Siam Commercial Bank, facilitates instant cross-border USD transfers for corporate and institutional clients, aiming to enhance transaction banking.
- The move signifies a shift towards on-chain settlement and always-on capabilities, with adoption and regulatory response being key factors to watch.
Topics: Banks bankingsystems, Payment system integration, Blockchain usage, 28 1 custody asset servicing, 15 3 cross border settlement, 6 4 private enterprise ledgers
Tags: #citigroup #siamcommercialbank #blockchainpayments #247clearing #tokenservices #crossborder #usdtransfers #permissionedblockchain #institutionalclients #transactionbanking
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