In a statement released on Monday (18/9), the American financial company Citigroup hinted that it will soon begin providing a tokenization service to its institutional customers.This tokenization solution is available to institutional clients, and it may be used to facilitate cash management and trade finance using blockchain technology and smart contracts.According to the explanation provided by the bank, Citi Token Services &#34;will provide cross-border payments, liquidity, and automated trading financial solutions 24/7&#34; for &#34;institutional clients with a need for &#39;always-on,&#39; programmed financial services.&#34;The utilization of smart contracts by Citi is analogous to the provision of conventional bank guarantees and letters of credit.Citi, Maersk, and the canal authority are working together as part of the pilot program to streamline the shipping method, which is often extremely time-consuming due to the enormous amount of paperwork that is needed. The goal of the pilot program is to reduce the amount of time that is spent on the shipping procedure.

Tokenization Service Citigroup Announces Blockchain-Powered

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