7 USD Clearing system. The move is aimed at enabling institutional clients in the US and the UK to process cross-border payments and manage liquidity at any time of day. The service is initially available in these two markets but is expected to expand to other regions.

Blending blockchain and traditional clearing

Citi Token Services uses a permissioned blockchain to support tokenised internal liquidity transfers. By connecting this with the bank’s round-the-clock clearing solution, the institution is looking to provide interoperability across both Citi and non-Citi accounts. This approach is designed to give corporate clients and financial institutions faster access to funds and greater flexibility in cash management.

Representatives from Citi explained that the service reduces the need for clients to pre-fund transactions, as liquidity can now be mobilised precisely when required. They also noted that the system eliminates many of the delays associated with conventional payment rails, allowing institutions to move large sums within seconds.

The bank has been expanding its digital payments network in response to rising demand for constant availability in financial services. Citi Token Services has already been used to process billions of dollars in value since its introduction in 2024, and the platform is live in the US, UK, Singapore and Hong Kong.