It has been revealed that Citigroup will launch an international remittance service using blockchain-based "tokenized deposits" for Japanese companies by the end of the year. Shamir Karkal, Citi's Global Head of Services, disclosed this in an interview with the Nikkei.
Tokenized deposits are a next-generation payment technology that converts bank deposits into a digital format operable on the blockchain, allowing for transactions using existing banking systems.
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