Highlights
- Citi Token Services (CTS) is integrating Euro transactions and expanding its footprint to Dublin, Ireland
- Clients can now transfer from Dublin both USD and Euros to their accounts and third-party accounts at Citi branches that are already live on CTS globally
- This launch is a significant step in Citi’s digital asset strategy, broadening the platform’s reach across multiple currencies and markets, and highlighting the firm’s commitment to innovating for clients
NEW YORK--(BUSINESS WIRE)--Citi today announced the expansion of Citi Token Services (CTS) with the integration of Euro transactions and an extended footprint to Dublin, Ireland. This development broadens the platform’s reach across multiple currencies and markets aiming to enhance 24/7, real-time, cross-border liquidity and payment capabilities for corporate and institutional clients globally. The solution is currently live in key financial hubs including the US, UK, Singapore, and Hong Kong, with plans for further market expansion.1
This expansion marks a significant step in Citi’s digital asset strategy, building on the integration of Citi Token Services with Citi’s 24/7 USD Clearing platform, announced in September. This industry-first integration will enable clients to move money when and where they need to without being constrained by time zones or currencies in a more cost-effective manner.
Launched last year, Citi Token Services for Cash continues to process billions of dollars in transactions. Leveraging a private, permissioned blockchain, the solution is designed to help eliminate traditional cut-off times and geographical restrictions, offering instant liquidity and payment capabilities.
“This expansion highlights our ongoing commitment to continuous innovation in order to meet our clients’ 24/7, global needs,” said Stephen Randall, Global Head of Liquidity Management Services. “By integrating tokenized deposits with Citi’s existing cash management infrastructure, we’re enabling clients to manage liquidity more efficiently across time zones and currencies, with the connectivity they expect.”
As part of this expansion, Citi Token Services is extending its footprint into Dublin, Ireland – an important liquidity center for Citi’s clients. From Dublin, clients will now be able to transfer both USD and Euros around the clock to their accounts and those of third-party accounts at Citi branches that are already live on CTS globally, addressing the limitations of traditional banking hours and supporting corporate liquidity optimization.
“Here in Europe, we’re seeing strong client demand for solutions that combine the advantages of tokenization with the scale, security and connectivity of Citi’s global network,” said Peter Jameson, Head of Services, Europe. “This milestone reflects that demand and reinforces Citi’s commitment to facilitating clients’ cross border money movement with greater speed and efficiency.”
This launch aligns with Citi’s goal to deliver a multi-bank, multi-currency, cross-border network that provides reliable, frictionless and always-on payment and liquidity solutions worldwide.
*1. Subject to regulatory approvals.
About Citi
Citi is a preeminent banking partner for institutions with cross-border needs, a global leader in wealth management and a valued personal bank in its home market of the United States. Citi does business in more than 180 countries and jurisdictions, providing corporations, governments, investors, institutions and individuals with a broad range of financial products and services.
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Contacts
Karah Cesar karah.cesar@citi.com | (212) 816-9490