Citi Ventures has made a strategic investment in Kansas City-based working capital marketplace C2FO. Terms of the arrangement have not been disclosed.
The world is on a slow but steady march towards digital money, according to a report from Citi and Imperial College London which says that the move away from cash will bring hundreds of millions of people into the formal economy.
Digital Asset Holdings, the blockchain startup helmed by former JP Morgan luminary Blythe Masters, has raised more than $50 million in a funding round joined by some of the biggest names in financial services, including Citi, Deutsche Börse and Santander InnoVentures. One of the investors, the ASX, has also handed Digital Asset a contract to design a post-trade settlement system using distributed ledger technology.
Financial industry association Isitc Europe has appointed Citi's Nigel Solkhon interim chief executive as its bids to reboot and establish itself as a significant voice in the post-trade sector.
Citi Security & Investigative Services (CSIS) has just joined the European ATM Security Team (EAST) as the National Member for the United States.
Swift India Domestic Services Pvt Ltd ("Swift India") and Citi India today announced a project to enable Swift India as a channel for payments, cash management, trade finance and treasury transactions for Citi's corporate customers.
Citi Mobile Challenge (CMC), the next-generation accelerator program pioneered by Citi, hosted its fourth demo day in Asia at the Hong Kong Science Park today.
Citi is testing a new Diebold cash machine with no screen, card reader or PIN pad, replacing them with the customer's mobile phone.
Citi is setting up a fintech unit, led by Heather Cox, that will focus on making the US banking giant ready for a "mobile first" future.
An initiative to create a set of global standards for the use of distributed ledger technology in financial markets has picked up momentum, with another 13 major banks - including BofA, Deutsche Bank and HSBC - throwing their weight behind the plan.
© Finextra Research 2016