- Fraser says tokenization allows clients to move money worldwide instantly, safely and without complexity.
- Citi connects 270 banks, enabling 24/7 clearing and broader access to multiple currencies, including euros and dollars.
- Citi and Coinbase partner on digital asset payments, supporting fiat on/off-ramps and continuous client access.
Citi CEO Jane Fraser outlined how tokenization could transform global payments, emphasizing client needs for instant, continuous, and safe money transfers. Speaking with CNBC, Fraser explained that tokenization digitizes markets, allowing 24/7 movement of funds across multiple currencies. Her remarks coincide with Citi’s growing focus on digital asset collaborations.
Tokenization as a Payment Solution
Fraser described tokenization as a way to simplify and accelerate transactions without complexity. She highlighted clients’ desire to move money worldwide instantly, noting the importance of safety and continuous access.
Citi has been expanding markets and currencies, adding euros alongside dollars, sterling, Hong Kong, and Singapore dollars. These steps enable 24/7 clearing and broader payment access.
Fraser noted that Citi now connects 270 banks, allowing instant fund transfers beyond Citi’s internal network. The approach ensures smoother transactions, catering directly to institutional client demands. By digitizing assets and clearing payments around the clock, Citi enhances cross-border liquidity and operational efficiency.
Collaboration With Coinbase
Recently, Citi and Coinbase announced plans to collaborate on digital asset payment capabilities for institutional clients. The partnership focuses on fiat pay-ins and pay-outs, supporting Coinbase’s on/off-ramps between traditional fiat and digital assets. The initial phase also includes payments orchestration to streamline client transitions, offering continuous access and efficiency.
The collaboration builds on Citi’s existing services, including Citi Token Services and 24/7 USD Clearing. These platforms provide real-time payments, reinforcing Citi’s presence in top eCommerce markets. Fraser emphasized that tokenization aligns with evolving client needs, offering flexibility and immediate access to digital payments worldwide.
Expanding Client Capabilities
Citi’s initiatives show how tokenization integrates with institutional operations, providing instant transfers across multiple markets. Fraser stressed that clients prioritize security and simplicity, driving Citi’s expansion of digital services. With support for diverse currencies and connectivity to numerous banks, the company strengthens payment accessibility for large institutions and global fintech players.
