Citi and JPMorgan Chase Leveraging Blockchain for Digital Asset Services in Corporate Payments

Citi and JPMorgan are leveraging blockchain technology to gain a digital asset foothold among corporate users, with Citi partnering with Payoneer to support blockchain-enabled treasury transfers and JPMorgan launching its deposit token. These moves position the banks to offer a range of digital asset services, including stablecoins, putting pressure on other banks to prepare for new products. The partnership between Citi and Payoneer aims to reduce the need for traditional payment methods and ensure instant liquidity through 24/7 transfers.

Citi and JPMorgan are leveraging blockchain technology to gain a foothold among corporate users, positioning themselves to offer a range of digital asset services. Citi has partnered with Payoneer to support blockchain-enabled treasury transfers, while JPMorgan has launched its deposit token. These moves are putting pressure on other banks to prepare for new digital asset products.

Citi's collaboration with Payoneer involves the implementation of blockchain technology through Citi Token Services, enabling real-time treasury transfers between Payoneer's global accounts. This partnership eliminates delays caused by traditional banking cut-off times, holidays, and weekends, providing instant liquidity and improved transparency [1][2]. Bea Ordonez, Chief Financial Officer at Payoneer, emphasized the transformative potential of blockchain technology in global money transfers.

JPMorgan, on the other hand, has introduced its deposit token, marking a significant step in its digital asset strategy. This move allows the bank to offer stablecoin-like products, further expanding its digital asset offerings. The deposit token aims to provide a more efficient and transparent way to manage deposits, leveraging blockchain technology to streamline processes and reduce costs [3].

These initiatives by Citi and JPMorgan are part of a broader trend in the financial industry, where traditional banks are increasingly adopting blockchain technology to offer digital asset services. The pressure to innovate and adapt to the changing landscape is evident, as these banks seek to stay competitive in the face of emerging fintech companies and digital currencies.

References:
[1] https://www.ledgerinsights.com/payoneer-adopts-citi-blockchain-technology-for-real-time-treasury-transfers/
[2] https://www.marketscreener.com/news/payoneer-leverages-citi-s-blockchain-technology-to-enable-24-7-global-intracompany-money-transfers-ce7c51dadb8bff26
[3] https://www.al.com/news/2025/08/birmingham-nonprofit-awarded-jpmorgan-chase-small-business-grants-totaling-2-million.html