The Citi Token Services UAE expansion brings 24/7 USD and euro liquidity to corporate and financial-institution clients, as Citi also takes the service live in Japan. The bank says the two additions bring its network to seven markets, giving participating clients another way to move funds without waiting for banking cut-off times or holidays. Citi’s announcement confirms the rollout; Fintech News UAE reports the regional expansion.
Citi Token Services uses tokenised deposits and a private, permissioned blockchain to move liquidity across Citi’s network, according to Citi’s announcement. The UAE supports USD and euro transactions, while Japan supports USD. The other live markets are the United States, Ireland, Hong Kong, Singapore and the United Kingdom. Citi says clients in Japan and the UAE can transfer funds to or from their accounts, including to other Citi clients in markets where the service is already enabled.
Citi Token Services UAE expansion: what changes for treasurers
The Citi Token Services UAE rollout adds a two-currency route for corporate and financial-institution clients managing funds across time zones. Citi says users can move USD and euro liquidity around the clock, rather than being limited by branch hours, weekends or public holidays. That can give treasury teams another way to position funds for cross-border payments and manage liquidity across Citi accounts. The bank has not published UAE customer names, transaction limits, fees or a public onboarding process in its announcement.
This is a service for institutional clients, not a new consumer wallet. Citi’s 2024 commercial-launch announcement described the cash service as operating between participating Citi branches and said clients do not need to hold or manage tokens themselves. The latest release describes transfers between clients in enabled locations, but does not announce transfers to external banks, public blockchain addresses or third-party wallets.
Citi describes the product as tokenised deposits on infrastructure it owns and manages, not as a public cryptocurrency or freely transferable stablecoin. For a corporate treasurer, its stated use is moving funds within Citi’s network outside conventional payment cut-offs. The announcements do not provide enough detail to compare settlement times, pricing or legal arrangements against a specific UAE payment rail.
A seven-market network, with the UAE as a regional link
Citi says the service is now live in the US, Ireland, Hong Kong, Singapore, the UK, Japan and the UAE. The UAE addition gives the network euro and dollar capability in a market Citi describes as a major hub for trade and investment across the Middle East, Africa and South Asia. Japan’s addition, by contrast, is limited to USD transactions, according to the announcement.
The service has developed beyond a pilot. In its 2024 announcement, Citi said its cash product had moved into a live commercial solution and was facilitating multimillion-dollar transactions. Citi says in its latest release that Citi Token Services processes billions of dollars in transactions, although it has not supplied a period, transaction count or breakdown for the figure. Those are Citi’s figures, rather than independently audited performance data.
The UAE expansion sits alongside other local bank-led digital-asset initiatives, including Emirates NBD’s partnership to pilot AI banking and digital-asset projects. Dubai has also opened retail access to a tokenised silver bar under DMCC and VARA, a separate use of tokenisation from Citi’s corporate cash service. Citi’s announcement centres on institutional cash movement across its own international network, while the Emirates NBD story concerns a broader pilot programme. UAE treasurers would need counterparties and operating accounts within Citi’s enabled locations; the release does not describe an open network spanning banks.
Citi’s regional head Rizwan Shaikh says the UAE service lets clients manage cross-currency liquidity 24/7, according to the bank’s announcement. The release leaves the client list, pricing, onboarding terms and any connection to non-Citi payment systems undisclosed.
Do companies need to hold tokens or use a crypto wallet?
No. Citi’s 2024 announcement says clients do not need to hold or manage tokens to use the cash service, which moves liquidity between participating Citi branches. Citi’s explanation describes it as an institutional banking service.
Can a UAE company use it to pay a non-Citi bank?
Citi’s latest announcement describes transfers involving clients and locations where the service is enabled, but does not confirm access to non-Citi banks or external wallets. The rollout details leave that interoperability question open.
Does Citi Token Services run on a public blockchain?
Citi describes the service as using a private, permissioned blockchain managed by the bank. The announcement does not describe transfers to public-chain addresses or a freely transferable public token. Citi’s announcement sets out the network’s stated scope.
