Celent tracks global banks, central banks, and fintechs active in harnessing blockchain technology in transaction banking. In its Blockchain Beacon blogs, it spotlights players that have succeeded at moving from PoCs and pilots to implementing solutions. Citi earns the spotlight for going live with Citi Token Services for Cash.

In March 2022, Citi set out to help address several perennial pain points faced by treasury and finance departments at multinational corporations (MNCs). Given their extensive global footprint and complex financial infrastructure, MNCs face inefficiencies and unnecessary costs with payments and liquidity management, as well as additional risk exposure in trade-related working capital finance.