Citi launches tokenized deposit transfers for Japanese firms

Citi said it will launch tokenized deposit-based international transfers for Japanese companies by year-end, enabling instant 24/7 cross-border payments across five countries. The bank says it will be the first foreign bank to offer this service in Japan.

• Tokenized deposits allow instant, around-the-clock cross-border settlement.
• The launch marks another step in banks moving corporate treasury payments onto tokenized-deposit rails alongside efforts like Swift's Digital Ledger.