It seems that there is a growing appetite and sentiment for regulated tokenized assets solutions. In mid-September, Citi (C) launched a token service using blockchain technology to offer digital asset solutions for its regulated institutional clients. The new service, called Citi Token Services, will convert clients’ deposits into digital tokens that can be used for instant cross-border payments, liquidity, and automated trade finance solutions around the clock.
“Digital asset technologies have the potential to upgrade the regulated financial system by applying new technologies to existing legal instruments and well-established regulatory frameworks,” Shahmir Khaliq, Citi’s global head of services said in a statement. “The development of Citi Token Services is part of our journey to deliver real-time, always-on, next-generation transaction banking services to our institutional clients.”
Citi is not the only bank (or the first bank) to introduce blockchain technology for its clients. JPMorgan Chase (JPM) is most likely the first traditional financial institution to operate a blockchain network,…
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