Citi is a global blockchain-based payment system. The bank added euro trading, established a new operational hub in Dublin, and expanded the reach of its City Token Services (CTS) platform beyond the US dollar to core European financial markets.
Euro integration takes 24/7 payments to the next level
The company says the addition of euro transfers will allow corporate and institutional customers to send funds 24 hours a day, regardless of time zone or bank business hours. The service is already available in the US, UK, Singapore and Hong Kong and connects directly to Citi branches on the CTS network, enabling faster cross-border payments and improved liquidity management.
“This expansion highlights our continued commitment to continuous innovation to meet the 24/7 global needs of our customers,” commented Steven Randall, Global Head of Liquidity Management Services.
“By integrating tokenized deposits with Citi’s existing cash management infrastructure, we will be able to more efficiently manage liquidity across time zones and currencies with the connectivity our customers expect.”
This development builds on Citi’s integration of its 24/7 USD clearing platform with Citi Token Services in September. This is an industry-first move that eliminates many of the constraints of traditional payments. The bank said the initiative aims to provide real-time fund transfers “whenever and wherever” customers need them.
Launched in 2023, Citi Token Services for Cash leverages private permissioned blockchains to process billions of dollars of transactions. This technology replaces traditional cut-off times with continuous payments, giving customers instant access to liquidity at any time and the ability to move funds around the world.
Dublin becomes a major liquidity center
Citi’s decision to expand its platform to Dublin highlights the growing role of Irish capital in the bank’s European operations. Customers can now transfer both US dollars and euros from Dublin to their own or third party accounts at other Citi branches around the world. The move is aimed at addressing the long-standing challenge of managing liquidity outside of normal business hours.
Citi’s latest expansion supports the company’s broader ambitions to create a multi-bank, multi-currency payments ecosystem that operates frictionlessly and continuously. As tokenization moves from concept to enterprise use, Citi is positioning itself at the forefront of how institutional investors manage liquidity in a digital-first financial environment.
