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TL;DR
The bigwigs at Citigroup lastly had the epiphany wanted to create an “always-on” blockchain-based cost service, that’s out there 24/7.
Citigroup has developed its personal personal blockchain (owned and managed by the financial institution, so it might leverage crypto, with out giving up an excessive amount of management) that transforms clients’ deposits into ‘Citi Tokens.’
And the cherry on high? Shoppers gained’t have to arrange their very own digital pockets! As a substitute, they’ll have the ability to entry the service by way of the financial institution’s current programs.
Full Story
Bear in mind when banks used to chortle at crypto, saying it could by no means exchange the standard monetary system?
To that we are saying:
“Properly, nicely, nicely, look whose clients obtained uninterested in ready a whole weekend for his or her wire transfers to clear.”
Right here’s what we’re on about…
The bigwigs at Citigroup lastly had the epiphany wanted to create an “always-on” blockchain-based cost service, that’s out there 24/7.
(Your favourite late-night pizza place can function across the clock, why can’t your financial institution?).
Citigroup has developed its personal personal blockchain (owned and managed by the financial institution, so it might leverage crypto, with out giving up an excessive amount of management) that transforms clients’ deposits into ‘Citi Tokens.’
These tokens serve the identical function as financial institution ensures and letters of credit score within the conventional monetary system.
And the cherry on high?
Shoppers gained’t have to arrange their very own digital pockets! As a substitute, they’ll have the ability to entry the service by way of the financial institution’s current programs.
Watching conventional monetary corporations enter crypto is type of like watching your dad attempt to skateboard – awkward, however you secretly hope he nails it.
(As a result of every entry brings us one step nearer to mass adoption).
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