Analysis Daily TheBitTimes.com

The new blockchain-based service will use tokenized deposits for trading and liquidity services after two pilots. Citigroup has introduced Citi Token Services, a private, permissioned blockchain that offers cross-border payments , liquidity and automated trade finance solutions to institutional clients. The new services “will integrate tokenized deposits and smart contracts into Citi’s global network,” according to a statement.   Citi Treasury and Trade Solutions (TTS), which has banking licenses in over 90 countries, has completed two pilots of the service. It worked with Danish shipping company Maersk and an unnamed canal authority on a program that made instant payments to service provide rs via smart contracts, reducing transaction processing times from days to minutes. The service replaces bank guarantees and letters of credit, the statement said. A second pilot enabled clients to transfer liquidity between Citi branches around the clock, reducing “frictions related to cut of...

“We’re seeing another wave of Bitcoin interest, largely driven by business and institutional adoption,” says Alex Leishman, River CEO. “It’s not fueled by hype.” The tide might have gone out on Bitcoin Ordinals, but there’s a strong undercurrent of investments in Bitcoin-only companies. River, a U.S.-based Bitcoin (BTC) technology and financial services company is the latest to make a splash.  River announced a $35 million Series B equity funding round despite the bear market. Kingsway Capital led the round, with notable contributions including Paypal co-founder Peter Thiel, Cygni, Goldcrest and Valor Equity Partners. According to Alex Leishman, the CEO of River, the new wave of Bitcoin interest is “largely driven by business and institutional adopt ion.” He added: "It’s not fueled by hype. This year’s bank failures and bailouts have been a wake-up call, revealing the cracks of the traditional financial system and reminding us why Bitcoin is so important–it’s a secure path to a ...