The brief

Analyst view

• Citi Token Services is live in 7 markets (US, UK, Ireland, Hong Kong, Singapore, Japan, UAE) as of Sep 2026.
• At its May 2026 investor day Citi said hundreds of clients move close to $1B a day through the service.
• Citi says it is still weighing a Citi-branded stablecoin and is building custody for crypto assets.

Technical approach

As reported

Tokens

Deposits as tokens, not a stablecoin

A client's ordinary Citi deposit is mirrored as a token on Citi's own ledger. It stays a bank deposit, so accounting and protections do not change.

Ledger

Private, permissioned blockchain

Citi owns and runs the chain; clients reach it through existing online banking or an API, with no node, wallet or new account to set up.

Clearing

Linked to 24/7 dollar clearing

Since Sep 2025 the token network connects to Citi's 24/7 USD Clearing, so payments can reach accounts at other banks, not just within Citi.

Code

Programmable payments

Smart contracts can release money automatically when a condition is met, which Citi tested to replace paper bank guarantees in trade finance.

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