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Citi is upgrading some of its services for institutional clients using blockchain technology. The banking giant introduced Citi Token Services on Monday, which will tokenize clients' deposits so they can be sent anywhere in the world instantly. The bank is also now using smart contracts to automate the trade process. Citi tested the smart contract capability with shipping and logistics giant Maersk, a client of the bank. While crypto remains in regulatory limbo and prices have been almost stagnant this year, renewed excitement about tokenizing real-world assets using blockchain technology has emerged as one of the hottest topics of the year.
Persons: Ryan Rugg, Rugg, Bernstein, Hamilton Lane, Franklin Templeton, JPMorgan Chase Organizations: Citi, Citi Token Services, Citi's Treasury, Trade Solutions, Investment, KKR, Securitize, JPMorgan Locations: U.S, Singapore
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCiti debuts new token service in push to bring blockchains to institutionsRyan Rugg, Citi's global head of digital assets for treasury and trade solutions, discusses the bank's new token service, which is part of a wider push to offer crypto to institutional clients.
Persons: Ryan Rugg Organizations: Citi
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNew York state regulator proposes tougher guidelines for crypto listings: CNBC Crypto WorldCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, Ryan Rugg, Citi's global head of digital assets for treasury and trade solutions, discusses the bank's new token service, which is part of a wider push to offer crypto to institutional clients.
Persons: explainers, Ryan Rugg Organizations: CNBC Crypto, CNBC Locations: York
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBitcoin rises, and ex-OpenSea manager found guilty in NFT insider trading case: CNBC Crypto WorldCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, Ryan Rugg, the head of digital assets for Citibank's TTS business, discusses blockchain technology and tokenization from Digital Assets Week in San Fransisco.
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