TechFlow news, according to Bloomberg, Citigroup has launched Citi Token Services, a deposit tokenization service for institutional clients. The product will operate on the bank's privately controlled blockchain, allowing customers to access the service through the bank’s existing systems without needing to set up their own digital wallets.
The service is provided by Citigroup's Treasury and Trade Solutions unit, which so far has been focused on utilizing the service to enhance cash management and trade finance capabilities.
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