CITIGROUP DEBUTS TOKEN SERVICE IN LATEST FORAY INTO DIGITAL ASSETS

Summary from the TLDR Crypto newsletter

Citigroup has launched a new product called Citi Token Services, which will tokenize customer deposits with the aim of enabling 24/7 transfers. Currently housed under the company's treasury and trade solutions division, the new service employs a private blockchain and eliminates the need for clients to create their own personal digital wallets. It is integrated directly into the bank’s existing infrastructure. The initiative is expected to streamline cross-border payments and settlements, advancing transactions within trade finance.