Citigroup said it has expanded Citi Token Services, its tokenized deposit and blockchain-based corporate funds transfer offering, to Japan and the United Arab Emirates. In Japan, the service supports U.S. dollar transactions, while in the UAE it supports both U.S. dollar and euro transactions. The product is aimed at corporate clients and financial institutions.
Before this move, Citi Token Services was already operating in five markets: the United States, Ireland, Hong Kong, Singapore, and the United Kingdom. With the addition of Japan and the UAE, the network now spans seven markets. Citi also said the service is currently processing transactions worth billions of dollars. The update was carried by CoinPost and summarized by Techub.
Citigroup said it has expanded Citi Token Services, its tokenized deposit and blockchain-powered corporate funds transfer service, to Japan and the United Arab Emirates.
In Japan, the service supports U.S. dollar transactions. In the UAE, it supports U.S. dollar and euro transactions. The service is designed for corporate clients and financial institutions.
Before the expansion, Citi Token Services was already live in five markets: the United States, Ireland, Hong Kong, Singapore, and the United Kingdom. With Japan and the UAE added, the service network now covers seven markets.
Citi said the service is currently handling transactions worth billions of dollars.
The update was reported by CoinPost and summarized by Techub.
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