Citi will become Japan's first foreign bank to launch tokenized deposit-based cross-border payments by year-end, enabling instant 24/7 transfers across five countries.
DeFi & Yields ·
Citi intends to introduce tokenized deposit-based cross-border payment transfers for Japanese companies by year-end, positioning itself as the first foreign bank to offer such a service in Japan. The offering will support instant, round-the-clock transfers across five countries, removing traditional settlement delays and time-zone constraints.
The service leverages tokenization of customer deposits to streamline international money movement, allowing Japanese firms to access faster settlement than conventional wire transfer infrastructure provides. By anchoring payments to existing deposit balances rather than requiring new infrastructure or stablecoins, the model reduces counterparty and custody risks.
The timeline and specific countries remain to be confirmed as implementation approaches year-end. Details on participation requirements, transaction limits, pricing, and whether the service will expand beyond Japanese corporate clients have not yet been disclosed.