SCB goes live with Citi’s 24/7 USD Clearing and Citi Token Services solution
The Siam Commercial Bank (SCB) and Citi have announced that SCB is the first financial institution client globally to go live with Citi’s newly integrated 24/7 USD Clearing and Citi Token Services solution. With this, Citi is enabling near real-time, round-theclock, cross-border USD payments for its corporate and institutional clients. For The Siam Commercial Bank, the adoption of 24/7 USD Clearing with Citi Token Services represents a strategic investment in next-generation payment infrastructure.
Thanawatn Kittisuwan, Head of Transaction Banking, The Siam Commercial Bank, said: “At SCB, we continuously invest in innovative capabilities that help our corporate and institutional clients operate more efficiently in an increasingly global and connected business environment. Through our collaboration with Citi, we are the first bank in Thailand to leverage tokenization to enhance crossborder USD capabilities, helping our clients simplify operational constraints and conduct their international business activities with greater
WHY IT MATTERS
This milestone marks a significant step forward in Thailand’s digital financial infrastructure, bringing the power of blockchainenabled, programmable payment capabilities to Thai businesses and financial institutions. It also furthers Thailand’s broader digital economy agenda, supporting the Bank of Thailand’s vision for a modernized, interoperable financial system that can compete on the global stage.
