Citigroup Highlights Cross-Institutional Need for Tokenized Currencies at Consensus Miami on May 6

According to CoinDesk, Citigroup’s Ryan Rugg, head of digital assets for treasury and trade solutions, stated on May 6 at Consensus Miami that tokenized currencies cannot realize their potential if confined to single-bank systems. Large enterprise clients typically manage hundreds or thousands of accounts across multiple global banks and require real-time, around-the-clock payments that operate seamlessly across networks. Rugg emphasized that clients need multi-bank support rather than single-bank tokens. While Citigroup has built its own tokenization platform connected to a 24/7 dollar settlement system with over 300 banks, she stressed that industry-wide shared infrastructure and clear legal frameworks are essential.