Citi Debuts Token Service in Latest Foray Into Digital Assets

Citigroup Inc. debuted a token service that’s part of a broader push to offer digital assets to institutional clients.

The product — known as Citi Token Services — will transform customers’ deposits into digital tokens that can be sent instantly anywhere in the world, according to a statement Monday. The service is housed in the firm’s treasury and trade solutions division, which has so far focused on using it to improve cash-management and trade-finance capabilities.

“The development of Citi Token Services is part of our journey to deliver real-time, always-on, next generation transaction banking services to our institutional clients,” Shahmir ...