Citigroup (NYSE:C) plans to launch blockchain-based tokenized deposit remittance services for Japanese corporate clients under local regulation. The offering will use a permissioned blockchain so businesses can move funds across jurisdictions within a regulated digital deposit framework. Japan's rules allow yield-bearing tokenized deposits, which this product is expected to incorporate for eligible corporate users. Citigroup's tokenized deposit rollout in Japan only captures part of the...
- Citigroup is launching blockchain-based tokenized deposit remittance services for corporate clients in Japan, leveraging local regulations that permit yield-bearing deposits.
- This initiative connects Citigroup's global transaction banking network to on-chain deposit products, aiming to test client demand for blockchain-based cash management.
- The move aligns with Citigroup's broader digital asset strategy, with investors watching on-chain volumes and balances for signs of traction.
Topics: Jurisdictions, Infrastructure providers, Integration with defi, Established hubs, Major financial incumbents, On chain treasury management
Tags: #citigroup #tokenizeddeposits #japan #blockchain #corporateclients #yieldbearing #remittanceservices #digitalassets #transactionbanking