Token

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<div class="coinjournal"> 
 <ul> 
  <li>Citi Token Services will help enable instant transfers globally.</li> 
  <li>The new service will be accessible via its existing systems.</li> 
  <li>Citi shares are down over 15% versus their year-to-date high.</li> 
 </ul> 
 <p>Citigroup Inc is in focus today after launching “tokenized deposits” for institutional clients.</p> 
 <h2 id="tokenized-deposits-will-help-enable-instant-transfers">Tokenized deposits will help enable instant transfers</h2> 
 <p>Citi Token Services will change <a rel="dofollow" title="deposits" href="https://thebittimes.com/tag/deposits.html">deposits</a> into digital <a rel="dofollow" title="token" href="https://thebittimes.com/tag/token.html">token</a>s to enable instant transfers even outside of business hours to anywhere in the world. According to Shahmir Khaliq – its Global Head of Services:</p> 
 <blockquote>
  <p>The development of Citi Token Services is part of our journey to deliver real-time, always-on, next-gen transaction banking services to our institutional clients.</p>
 </blockquote> 
 <p>The multinational investment bank worked for months with Maersk to test this latest foray into the blockchain-enabled payment solution. Its shares are currently down more than 15% versus their year-to-date high.</p> 
 <p>Note that Citi Securities Services also partnered with BondbloX Bond Exchange as a digital custodian last week.</p> 
 <h2 id="citi-s-wealthy-clients-won-t-need-their-own-digital-wallet">Citi’s wealthy clients won’t need their own digital wallet</h2> 
 <p>The financial services behemoth is using a private blockchain to <a rel="dofollow" title="launch" href="https://thebittimes.com/tag/launch.html">launch</a> the new service and not relying on a public one like Ethereum, as per the press release.</p> 
 <p>Citi Token Services will, therefore, be available to institutional clients via its existing systems without the need of a separate digital wallet. Shahmir Khaliq also said today:</p> 
 <blockquote>
  <p>This development goes hand-in-hand with our industry leading work on Regulated Liability Network to create interoperable digital asset solutions on a multi-bank basis.</p>
 </blockquote> 
 <p>The New York listed firm recently announced plans of reorganising into five main divisions. Its peer JPMorgan Chase &amp; Co is also exploring <a rel="dofollow" title="tokenized" href="https://thebittimes.com/tag/tokenized.html">tokenized</a> <a rel="dofollow" title="deposits" href="https://thebittimes.com/tag/deposits.html">deposits</a> but its efforts are still in the early stages only.</p> 
</div>
<p>Source: <a rel="dofollow" target="_blank" href="https://thebittimes.com/citi-just-launched-tokenized-deposits-for-institutional-clients-tbt63150.html">https://thebittimes.com/citi-just-launched-tokenized-deposits-for-institutional-clients-tbt63150.html</a></p>

Citi just launched ‘tokenized deposits’ for institutional clients

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