It has been revealed that Citigroup will start offering an international remittance service using "tokenized deposits" based on blockchain technology for Japanese companies by the end of the year. Shamir Karkal, the global head of Citi's service division, 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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