#CitiGroup debuted a Token service that's part of a broader push to offer digital assets to institutional clients.

The service uses blockchain technology to convert clients’ deposits into digital tokens that can be used for instant cross-border payments 24/7, the bank said.

The new service, called #CitiToken Services, will convert clients’ deposits into digital tokens that can be used for instant cross-border payments, liquidity and automated trade finance solutions around the clock, Citi’s statement said.

The service, part of the bank’s treasury and trade solutions, aims to integrate tokenized deposits into Citi’s global network to boost its core cash management and trade finance capabilities.