Two of the world’s largest financial institutions, Citi and Société Générale, are making strides in blockchain technology and unveiling new initiatives that could reshape traditional banking processes.

During a recent panel at Benzinga’s Future of Digital Assets event, Citi’s Ioana Niculcea and Société Générale’s Thomas Sullivan shared their companies’ latest advancements in tokenization and digital finance.

Citi’s Tokenized Deposit Solution

Citi launched a tokenized inter-branch deposit system called Citi Digital Cash. This live and operational solution facilitates transactions between the U.S. and Singapore, allowing faster, more efficient cash movements within the bank’s network.

“Our Citi Digital Cash solution — inter-branch tokenized deposits for the U.S.-Singapore corridor — is now live and commercial,” Niculcea said during the panel discussion.

She emphasized the ability to integrate digital and analog financial systems is critical for clients. As the demand for seamless access to both traditional and digital assets grows, solutions like Citi Digital Cash demonstrate the …

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