Token

<p><strong>Citigroup is making its digital asset services bigger with a fresh partnership and a trial program for digital deposits.</strong></p> 
<h2 style="text-align: center;" id="bond-exchange-partnership">Bond Exchange Partnership</h2> 
<p>Citigroup, a global investment bank, has become the first digital custodian for the BondbloX Bond Exchange. This exchange operates under the regulation of the Monetary Authority of <a href="https://walletinvestor.com/magazine/standard-chartereds-crypto-subsidiary-zodia-custody-launches-in-singapore" target="_blank" rel="noopener">Singapore</a> and is known as the world’s initial fractional bond exchange that uses atomic settlement and distributed ledger technology.</p> 
<p>This partnership <a href="https://www.theblock.co/post/251413/citi-expands-digital-asset-services-with-bond-custody-tokenized-deposits" target="_blank" rel="noopener">means that</a> Citi’s eligible customers can access fractionalized bond trading on BBX. Citigroup will provide settlement and custodial services.</p> 
<blockquote class="twitter-tweet"> 
 <p dir="ltr" lang="en">.<a href="https://twitter.com/Citi?ref_src=twsrc%5Etfw">@Citi</a> has unveiled Citi Token Services pilots</p> 
 <p>Includes tokenized deposits + smart contract bank guarantees</p> 
 <p>This is separate from the Regulated Liability Network<a href="https://twitter.com/hashtag/blockchain?src=hash&amp;ref_src=twsrc%5Etfw">#blockchain</a> <a href="https://twitter.com/hashtag/DigitalAssets?src=hash&amp;ref_src=twsrc%5Etfw">#DigitalAssets</a> <a href="https://t.co/gDcLvIt2Ey">https://t.co/gDcLvIt2Ey</a></p> 
 <p>— Ledger Insights (@LedgerInsights) <a href="https://twitter.com/LedgerInsights/status/1703778107054789079?ref_src=twsrc%5Etfw">September 18, 2023</a></p>
</blockquote> 
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p> 
<h2 style="text-align: center;" id="enhanced-digital-custody">Enhanced Digital Custody</h2> 
<p>Nadine Teychenne, Head of Digital Assets at Citi Securities Services, mentioned, “This proprietary digital custody technology is scalable and will allow us to provide settlement and custody services for clients investing in assets issued on permissioned blockchain networks.”</p> 
<p>BBX allows investors to trade portions of traditional wholesale bonds worth $1,000. These tokenized bonds are stored on a distributed ledger, enabling almost instant exchanges using atomic settlement. Normally, settling bond trades takes about 48 hours, but atomic settlement uses blockchain innovations like smart contracts and digital signatures to automate clearing and settlement.</p> 
<h2 style="text-align: center;" id="access-to-global-bond-market">Access to Global Bond Market</h2> 
<p>Citigroup previously became the custodian for BondbloX’s traditionally issued bonds in 2021. This latest development now grants Citigroup custody of fractional, tokenized versions of those bonds. This expanded partnership with Citi also offers BondbloX users better access to the global bond market, allowing for a more diversified digital asset portfolio.</p> 
<h2 style="text-align: center;" id="tokenized-deposits">Tokenized Deposits</h2> 
<p>Citigroup is introducing a pilot program to transform customer deposits into digital tokens using a private blockchain owned and managed by the bank. This program, called Citi Token Services, converts customer deposits into digital tokens, enabling instantaneous global transfers processed on blockchain-based payment systems.</p> 
<p>This initiative is part of Citigroup’s efforts to expand its digital asset offerings and meet the needs of institutional clients, including a 24/7 cross-border payment service with high liquidity.</p> 
<p>Shahmir Khaliq, Global Head of Services at Citi, stated, “The development of Citi Token Services is part of our journey to deliver real-time, always-on, next-generation transaction banking services to our institutional clients.”</p>

Citi Expands Digital Asset Services

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