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Citi launches its own token

Citigroup Inc. is making a strategic foray into the world of digital assets with the launch of a groundbreaking digital token service and blockchain platform. The $1.72 trillion asset management powerhouse is introducing “Citi Token Services,” its digital solution tailored for real-time payments.

With Citi Token Services, customers’ deposits will undergo a transformation into digital tokens, opening the door to instantaneous cross-border transfers to anyone, anywhere in the world. Spearheaded by Citigroup’s treasury and trade solutions division, this pioneering initiative is set to redefine the landscape of transaction banking services for institutional clients.

Shahmir Khaliq, the global head of the company’s services division, elucidated, “The development of Citi Token Services is part of our journey to deliver real-time, always-on, next-generation transaction banking services to our institutional clients.”

You can read more on the matter here.

What’s going on?

• Azerbaijan-Armenia War Breaks Out As Baku Launches “Anti-Terrorist” Ops Against Nagorno-Karabakh (theDeepDive)

• Cboe CEO Edward Tilly Resigns After Failing To Disclose “Personal Relationships With Colleagues” (theDeepDive)

• At UN General Assembly, Biden asks world to stand with Ukraine (Reuters)

• Canada’s CPI Rises 4% in August: Canada’s Plan to Bring Down Inflation Isn’t Working (theDeepDive)

• Liberals’ Meeting With Grocery Execs Yields… Nothing (theDeepDive)

• India rejects Canada's suspicions on role in Sikh leader's murder (Reuters)

• LA Spends A Whopping $44,000 Per Tent in an East Hollywood Homeless Village (theDeepDive)

• African Coup: Is Republic of the Congo Next? (theDeepDive)

• Auto Workers, Automakers Back To Negotiation Table As Firms Strike Back (theDeepDive)

What’s the latest?

• Autoworker Strikes Delayed: The strike deadline for Ford autoworkers in Canada has been extended by 24 hours as the union considers a new offer. Unifor, the union representing the workers, received a substantive offer from Ford minutes before the deadline, and negotiations are continuing. If a deal isn't reached, a strike involving all 5,600 Unifor members at Ford in Canada will take place.

• Canada vs India: Trudeau has stated that he isn't trying to provoke India after accusing the Indian government of playing a role in the killing of a Canadian Sikh leader, Hardeep Singh Nijjar. Nijjar was shot dead outside a Sikh temple in Surrey, B.C., in June. Trudeau's accusations have led to increased tensions between Canada and India. Canada has expelled a senior Indian diplomat, and India has summoned Canada's high commissioner in New Delhi.

• Azerbaijan Launches War: Azerbaijan has launched military action in the Nagorno-Karabakh region, which has long been a source of conflict between Azerbaijan and Armenia. While the area is internationally recognized as Azerbaijani territory, it is partially controlled by breakaway ethnic Armenian authorities. Azerbaijan claims its actions are aimed at restoring constitutional order and driving out Armenian military formations.

• Disney Invests In Parks: Disney is planning to nearly double its investment in its theme parks and experiences division, allocating approximately $60 billion over the next decade. While domestic parks like Walt Disney World have faced a slowdown in attendance, the international parks have seen a 13% increase in revenue in the third quarter.

• Russell Brand Demonetized: YouTube has suspended monetization for Russell Brand's account after several women made allegations of sexual assault against the comedian-turned-influencer. This decision applies to all channels that may be owned or operated by Russell Brand, impacting his ability to earn money from ads on his videos.

First Majestic opens a minting facility

The stock market and stuff

• Mark Cuban Loses $870K To Crypto Scam (theDeepDive)

• Google launches last-ditch effort to overturn $2.6 bln EU antitrust fine (Reuters)

• Salesforce Wants Its Laid-Off Staff Back (theDeepDive)

In the juniors

• American Eagle Hits 473 Metres Of 0.62% Copper Equivalent (theDeepDive)

• Mullen Automotive lands IRS approval for federal EV tax credit (SA)

• Decade Resources Assays Up To 5.89% Copper In Grab Samples (theDeepDive)

FULL DISCLOSURE: Carlyle Commodities is a client of Canacom Group, the parent company of The Deep Dive. Canacom Group is currently long the equity of Carlyle Commodities. The author has been compensated to cover Carlyle Commodities on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.