Citigroup has expanded Citi Token Services, its blockchain-based tokenized deposit offering, to Japan and the United Arab Emirates, bringing the network to seven markets. Eligible Japanese clients can transfer U.S. dollars around the clock through Citi's private permissioned blockchain, while UAE clients can move both dollars and euros. The service lets institutions transfer deposits already held at Citi without acquiring or redeeming stablecoins, offering a bank-network alternative for international payments and liquidity management. The expansion comes as MUFG Bank, Sumitomo Mitsui Banking Corporation and Mizuho Bank prepare a joint stablecoin framework targeting live transactions by March 2027. Citi said Token Services has processed billions of dollars and is developing 24/7 USD Clearing to extend round-the-clock dollar payments beyond transfers between its own accounts. Citi has also expanded its collaboration with Coinbase on digital and fiat payment capabilities, including stablecoin-related services.