A year ago, Citibank launched two pilot models of tokenized deposit solutions. The Citibank Cash Token service enables businesses and institutions to transfer funds between Citibank branches around the world 24/7. This service has now been put into commercial use, and Mars was one of the first customers. The second solution is CitiToken Services for Trade, which is still in pilot mode and is currently conducting new pilot transactions with shipping agents CB Fenton and GAC Panama Shipping. @esuww19dyo

Interesting to see mainstream financial institutions embracing tokenized deposit solutions. Citi's Cash Token service could significantly reduce settlement timeframes and increase efficiency in cross-border transactions.