Cross-border payments firm Payoneer is using Citi's blockchain technology for real-time 24/7 intracompany money transfers.
Payoneer is tapping Citi Token Services - the bank's tokenised liquidity and payment platform - to transfer funds between its global accounts in participating branches and currencies with greater speed, automation and transparency.
The firm will benefit from instant global liquidity and improved treasury efficiency through simple API and blockchain integration with existing treasury and payments systems, says Payoneer.
Bea Ordonez, CFO, Payoneer, says: "Blockchain-based infrastructure is transforming how money moves globally and with Citi Token Services, we gain the ability to move money in real time across borders, delivering a faster, more efficient experience for our customers."