Citi Token Services will provide payments, liquidity to institutional customers

Citigroup has introduced Citi Token Services, a private, permissioned blockchain that offers cross-border payments, liquidity and automated trade finance solutions to institutional clients. The new services “will integrate tokenized deposits and smart contracts into Citi’s global network,” according to a statement.  

Citi Treasury and Trade Solutions (TTS), which has banking licenses in over 90 countries, has completed two pilots of the service. It worked with Danish shipping company…