On September 28, 2026, Citi announced that its Citi Token Services platform had expanded into Japan and the United Arab Emirates (UAE), bringing the service to seven markets and extending its 24/7 capabilities for corporate and financial institution clients.
Japan will support USD transactions, while the UAE will support both USD and EUR, allowing clients to move liquidity without the constraints of traditional banking cut-off times and holiday calendars.
Citi said Token Services continues to process billions of dollars in transactions through a private-permissioned blockchain, supporting liquidity, payments, and collateral management across its global network.
Token Services Reaches Seven Markets
The addition of Japan and the UAE brings Citi Token Services to seven markets: the United States, Ireland, Hong Kong, Singapore, the United Kingdom, Japan, and the UAE.
| Market | Capability |
| Japan | USD transactions |
| UAE | USD and EUR transactions |
| United States | Live |
| Ireland | Live |
| Hong Kong | Live |
| Singapore | Live |
| United Kingdom | Live |
Table 1. Citi Token Services markets following the September 2026 expansion.
The expansion represents a 75% increase in the platform’s geographic footprint from the four markets where Token Services was live in September 2025. Citi had already said the service was processing billions of dollars in transactions at that stage.
Japan and UAE Add New Liquidity Corridors
Citi described Japan as a strategically important market because of its role as a major global economy and liquidity center, with significant cross-border activity involving multinational companies and financial institutions. The UAE, meanwhile, serves as a major financial hub connecting the Middle East, Africa, and South Asia, with substantial cross-border flows and multinational treasury operations.
Adding these markets gives corporate and institutional treasurers more options for managing liquidity across regions and time zones. The UAE’s support for both dollars and euros also expands the multi-currency functionality of Token Services.
Tokenized Deposits Operate Within Citi’s Banking Infrastructure
Citi Token Services uses tokenized deposits and a private-permissioned blockchain to facilitate near-instantaneous movement of liquidity across Citi’s network. The platform is designed to support payments, liquidity management, and collateral activity while remaining connected to Citi’s existing banking infrastructure.
This differs from using a public cryptocurrency as a payment asset. The tokenized deposits remain within Citi’s institutional banking environment, allowing the bank to apply its existing controls and client relationships while using blockchain technology to coordinate transactions.
Citi is also developing related infrastructure through its 24/7 USD Clearing and digital-asset services, which connects tokenized activity with conventional payment operations.
A Holiday-Weekend Transaction Demonstrated the Model
The Japan and UAE rollout follows a July 2026 transaction that showed how Citi’s always-on infrastructure could operate across jurisdictions.
Siam Commercial Bank became the first financial institution client to go live with Citi’s integrated 24/7 USD Clearing and Token Services solution. The transaction moved USD from a Citi London account to an SCB account in Thailand over a U.S. holiday weekend, demonstrating how the infrastructure can reduce the impact of conventional banking schedules on cross-border liquidity.
That provides a practical example of the problem Citi Token Services is designed to address: allowing institutional funds to move between markets without waiting for banking windows to reopen.
Citi Is Also Testing Swift’s Blockchain Ledger
Token Services is being developed alongside Citi’s separate work with Swift’s blockchain-based ledger.
On September 2, 2026, Citi announced that it had processed live transactions on Swift’s ledger with First Abu Dhabi Bank and Oversea-Chinese Banking Corporation. Citi described itself as the first U.S. bank to conduct live native-ledger transactions as part of the initiative.
The transactions formed part of a controlled proof-of-concept running from July through December 2026 and explored 24/7 cross-border payments using shared blockchain infrastructure.
The Swift initiative and Citi Token Services are separate systems, but both reflect Citi’s broader effort to connect traditional banking infrastructure with tokenized money and shared digital networks.
Citi Brings Significant Payments Scale
The tokenization strategy sits within Citi’s much larger payments operation. Citi says its Payments business processes nearly $6 trillion in payments each day, while cross-border transaction volumes increased 12% during 2025.
That scale provides context for the Token Services expansion. Citi is integrating digital-money capabilities into an established institutional payments business rather than operating blockchain infrastructure as an isolated service.
What Comes Next
Citi has not disclosed separate transaction-volume targets for Japan or the UAE or announced additional markets beyond the seven currently live locations.
The bank is continuing to develop Token Services alongside 24/7 USD Clearing and emerging multi-bank tokenized networks.
The broader question will be how corporate treasurers and financial institutions use tokenized deposits for cross-border payments, liquidity management, and collateral as the infrastructure expands.
What this means for you: Citi Token Services is now live in seven markets following its expansion into Japan and the UAE. Japan supports USD transactions, while the UAE supports USD and EUR, giving corporate and institutional clients additional options for moving liquidity around the clock. The expansion is part of Citi’s broader strategy to connect tokenized deposits with established payment infrastructure and emerging blockchain-based networks.
This article is for informational purposes only and does not constitute financial or investment advice. Tokenized deposits, blockchain-based payment infrastructure, cross-border liquidity management, and digital-asset services involve regulatory, technology, cybersecurity, liquidity, operational, and counterparty risks. Availability depends on client eligibility, market, and applicable regulations.
