Description
Citi Token Services is an institutional payment service using private blockchain technology to facilitate cross-border fund transfers between participating Citi branches on a 24/7 basis. The service converts deposits into tokenized form via smart contracts, enabling near-instant settlement without requiring clients to open additional accounts or hold tokens. Transactions are initiated through the CitiDirect® online banking portal or API, with real-time payment status notifications and settlement confirmation. The service also supports programmable transfer of tokenized deposits for trade finance applications.