Payoneer has announced a collaboration with Citi to launch real-time, blockchain-enabled treasury transfers via Citi Token Services, the bank’s tokenised liquidity and payment platform.
The service lets Payoneer move funds between its global accounts in participating branches and currencies at any time, reducing reliance on traditional payment methods and avoiding delays from banking cut-off times, weekends, and public holidays.
Available in markets such as the US, UK, and Singapore, the capability is designed to improve the speed, transparency, and automation of intra-company transfers while streamlining cash management and foreign exchange risk mitigation through programmable, blockchain-based settlements.
Launched in 2024, Citi Token Services facilitates multimillion-dollar transactions and provides 24/7 cross-border liquidity and payments between participating Citi branches.
It has processed billions in transaction value since its debut and is live in the US, UK, Singapore, and Hong Kong for US dollar transfers.
“We’re constantly looking for ways to simplify the complex world of cross-border payments.
Blockchain-based infrastructure is transforming how money moves globally and with Citi Token Services, we gain the ability to move money in real time across borders, delivering a faster, more efficient experience for our customers.”
said Bea Ordonez, Chief Financial Officer, Payoneer.
“Citi Token Services is transforming how our global clients manage liquidity and payments, providing real-time, 24/7, cross-border access and significantly improving efficiency.
In this rapidly evolving digital banking landscape, we’re pleased to collaborate with clients, like Payoneer, on a range of our cross-border payments capabilities to deliver secure, scalable and transparent payments globally.”
said Ryan Rugg, Global Head of Digital Assets, Treasury and Trade Solutions at Citi.
Featured image: Edited by Fintech News Singapore, based on image by perig76 via Freepik
