Global financial technology firm Payoneer, listed on NASDAQ under the ticker PAYO, has announced a partnership with Citi to introduce real-time, blockchain-enabled treasury transfers. The service will operate through Citi Token Services, the bank’s tokenized liquidity and payments platform. The initiative is designed to facilitate faster, more transparent, and automated fund movements between Payoneer’s global accounts across participating branches and currencies.
The move is being presented as a significant step in Payoneer’s broader strategy to modernize its financial infrastructure through targeted innovation. By using Citi’s blockchain-powered solution, Payoneer aims to reduce its reliance on traditional payment systems and eliminate delays caused by factors such as banking cut-off times, public holidays, and weekends. The collaboration also expands on the companies’ existing relationship, which already includes Citi’s Banking-as-a-Service capabilities and cross-border foreign exchange and payment services.
Streamlined cross-border liquidity
Payoneer’s leadership emphasized that the company is committed to simplifying the complexities of international payments. They noted that blockchain-based infrastructure is reshaping global money movement and that the integration with Citi Token Services will allow funds to be transferred instantly across different jurisdictions, thereby offering a faster and more efficient experience for customers.
According to Payoneer, the new infrastructure is expected to deliver several operational benefits:
Instant global liquidity: The capability to move funds at any time between Payoneer’s entities in markets such as the United States, United Kingdom, and Singapore. This would remove time constraints traditionally imposed by weekends and holidays.
Improved treasury efficiency: Faster, more transparent, and automated intra-company transfers that can enhance cash management processes and support foreign exchange risk mitigation through programmable blockchain settlements.
Simplified integration: The use of modern APIs and blockchain protocols that allow seamless integration with current treasury and payment systems, reducing the need for extensive infrastructure modifications and enabling faster deployment.
Citi expands its blockchain footprint
Citi stated that its tokenized services are transforming how global clients manage liquidity and payments by offering round-the-clock, cross-border access and enhanced operational efficiency. The bank highlighted its aim to work closely with clients such as Payoneer to deliver secure, scalable, and transparent global payment solutions in the evolving digital banking environment.
Launched in 2024, Citi Token Services is designed to support high-value transactions and provide uninterrupted cross-border liquidity between participating Citi branches. Since its inception, it has processed transactions worth billions of dollars. The service currently operates in branches located in the United States, United Kingdom, Singapore, and Hong Kong, with transfers available in US dollars.
Through this partnership, Payoneer appears poised to accelerate its treasury modernization efforts while taking advantage of Citi’s blockchain-based capabilities. The arrangement is expected to help the fintech enhance speed, efficiency, and reliability in managing funds across its global network, ultimately contributing to a more seamless cross-border payments experience for its customers.
