According to CoinMeta, Citi announced that its blockchain-based token service has been launched in Japan. This service enables institutional clients to conduct transactions in US dollars across seven markets, including Japan and the United Arab Emirates. Citi stated that the service allows liquidity to move almost in real-time across its global network, having processed billions of dollars in transactions. Unlike USDC or Japan's JPYCoin, Citi tokens represent deposits held by banks, and customers do not need to transfer their funds into independently issued stablecoins. Stephen Randall, the head of Citi's global liquidity management service, said that this expansion will provide customers with more options for liquidity management. Meanwhile, Japanese financial institutions are also preparing their own blockchain payment systems; MUFG, Sumitomo Mitsui Banking Corporation, and Mizuho Bank are developing a joint stablecoin framework, planning to start real-time transactions in fiscal year 2026.