- Trending
- Comments
- Latest
Citigroup’s blockchain-based settlement platform, Citi Token Services, is now live in five markets and moving close to $1 billion a day in tokenized deposits for institutional clients, according to Mark Attard, the bank’s head of digital assets and client relationships, with a Bitcoin custody service slated to launch later this year.
Speaking during a visit to Taiwan, Mark Attard, Head of Digital Assets and Client Relationships for Citi Services, outlined how Citi Token Services is helping clients move liquidity around the clock while the bank prepares to introduce crypto custody capabilities beginning with Bitcoin.
The initiative reflects Citi’s broader effort to modernize payments, custody, and tokenized asset infrastructure in response to evolving client needs and the rapid development of digital asset markets.
Citi has spent the past five years building blockchain and digital asset capabilities as financial institutions increasingly explore tokenization and digital settlement solutions.
At the center of that strategy is Citi Token Services, the bank’s private permissioned blockchain platform, which enables institutional clients to transfer liquidity almost instantly on a 24/7 basis across selected markets and currencies.
According to Mark Attard, the evolution of digital finance is fundamentally changing how value moves across global markets, prompting Citi to invest heavily in blockchain-based infrastructure.
“The architecture of how money and assets move and settle is changing, reflecting a broader shift in how value moves through Citi’s network and the broader financial system.” — Mark Attard, Head of Digital Assets and Client Relationships, Citi Services
Attard explained that Citi’s digital asset roadmap has been shaped by customer feedback rather than technological experimentation alone.
“Our roadmap is shaped directly by what our clients and partners tell us they actually need.” — Mark Attard, Head of Digital Assets and Client Relationships, Citi Services
Beyond payments, Citi Token Services is designed to modernize collateral management and improve operational efficiency as financial markets transition toward always-on settlement.
Citi confirmed that Citi Token Services is now operational in five markets: the United States, the United Kingdom, Hong Kong, Singapore, and Dublin.
The platform currently supports transactions in U.S. dollars and euros, with additional currencies and payment corridors expected to be added over time.
According to Attard, adoption has accelerated rapidly since launch.
“Client adoption has been strong, with hundreds of clients moving close to US$1 billion each day through tokenized deposits.” — Mark Attard, Head of Digital Assets and Client Relationships, Citi Services
Mark noted that Taiwanese clients holding accounts in the five supported jurisdictions are already using Citi Token Services to improve liquidity management and operational efficiency.
Unlike public blockchains, Citi Token Services operates on a private permissioned blockchain, allowing institutional clients to benefit from blockchain technology while remaining within regulated banking infrastructure.
The service enables near-instant settlement regardless of traditional banking hours, addressing longstanding challenges associated with time zones and payment cut-off periods.
While Citi Token Services currently focuses on liquidity and payments, Citi is also preparing to expand into digital asset custody.
Attard revealed that the bank expects to launch its crypto custody service later this year, beginning with Bitcoin.
The initiative is part of Citi’s broader effort to become a unified custodian capable of safeguarding both traditional financial assets and digital assets within the same operational framework.
As tokenization gains momentum across financial markets, Citi believes digital infrastructure will reshape how securities are issued, transferred, financed, and held.
According to Attard, tokenization offers significant operational improvements by enabling continuous settlement, greater collateral mobility, and longer trading availability.
He explained that Citi Token Services helps overcome operational barriers created by global time differences, allowing financial institutions to manage liquidity more efficiently around the clock.
The bank expects these efficiencies to become increasingly important as tokenized securities and digital financial products become more widely adopted.
Beyond Citi Token Services, Citi continues expanding its digital asset ecosystem through new products and strategic partnerships.
One recent milestone was the launch of Digital Depositary Receipts (DDRs), which represent ownership interests in private companies using tokenized infrastructure.
Citi completed the first issuance for Kaleido, one of its portfolio companies, becoming the first global bank to both issue and serve as custodian for tokenized depositary receipts representing private companies.
The innovation is designed to provide private businesses with greater liquidity while allowing founders to retain existing ownership structures without pursuing a public listing.
Attard also emphasized the importance of collaboration with fintech companies and blockchain innovators.
Citi recently announced a partnership with Coinbase aimed at strengthening connections between traditional financial markets and decentralized finance.
According to Attard, the bank continuously evaluates opportunities involving stablecoins, digital assets, and blockchain infrastructure as customer demand evolves.
Rather than relying solely on internal development, Citi also considers acquisitions, strategic investments, and technology partnerships where appropriate.
The expansion of Citi Token Services comes as Citi continues to strengthen its global banking and wealth operations. In a separate announcement in June 2026, the bank appointed Rajeev Garg as Head of Wealth for Citibank N.A., UAE, underscoring its continued investment in key international markets while expanding both its traditional banking and digital asset businesses.
Primary Source: Interview with Mark Attard published by the Taipei Times (July 6, 2026).
Copyright © 2025 - The Bit Gazette.
