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Blockchain Beacons: Citi Token Services for Cash

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12 November 2024
Alenka Grealish

Proving Scalability

Celent tracks global banks, central banks, and fintechs active in harnessing blockchain technology in transaction banking. In its Blockchain Beacon blogs, it spotlights players that have succeeded at crossing the chasm of proving value and feasibility through PoCs and pilots to implementing solutions. Citi earns the spotlight for going live with Citi Token Services for Cash (Oct. 14, 2024).

In March 2022, Citi set out to solve several perennial pain points faced by treasury and finance departments at multinational corporations (MNCs). Given their extensive global footprint and complex financial infrastructure, MNCs face inefficiencies and unnecessary costs with payments and liquidity management, as well as additional risk exposure in trade-related working capital finance.

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