Payoneer, a Nasdaq-listed financial technology firm, has announced a partnership with Citi to introduce blockchain-enabled treasury transfers through Citi Token Services.
The development allows Payoneer to conduct real-time fund transfers between its global accounts, enhancing transaction speed, automation, and transparency.
This collaboration utilises Citi’s blockchain technology to facilitate money movement across Payoneer’s accounts. It aims to reduce dependency on traditional banking processes and the delays associated with banking hours and holidays.
The initiative is part of Payoneer’s strategy to modernise its financial operations through targeted innovation, building on its existing partnership with Citi for banking services and cross-border payment solutions.
Payoneer chief financial officer Bea Ordonez said: “We’re constantly looking for ways to simplify the complex world of cross-border payments.
“Blockchain-based infrastructure is transforming how money moves globally and with Citi Token Services, we gain the ability to move money in real time across borders, delivering a faster, more efficient experience for our customers.”
The infrastructure offers several anticipated benefits, including 24/7 global liquidity by facilitating instant fund transfers between Payoneer entities in regions such as the US, UK, and Singapore.
It also promises improved treasury efficiency by enabling swift, transparent intra-company transactions that streamline cash management and foreign exchange risk management via programmable settlements on blockchain technology.
Additionally, the integration of modern application programming interfaces (APIs) and blockchain protocols is designed to seamlessly fit into existing systems without requiring extensive infrastructure modifications.
Citi Token Services, launched in 2024, supports large-scale transactions and continuous cross-border liquidity among participating branches.
The service operates in the US, UK, Singapore, and Hong Kong with transfers available in US dollars. Since its inception, it has handled transactions worth billions.
Citi digital assets, treasury and trade solutions global head Ryan Rugg said: “Citi Token Services is transforming how our global clients manage liquidity and payments, providing real-time, 24/7, cross-border access and significantly improving efficiency.
“In this rapidly evolving digital banking landscape, we’re pleased to collaborate with clients, like Payoneer, on a range of our cross-border payments capabilities to deliver secure, scalable and transparent payments globally.”
Recently, Payoneer disclosed its financial performance for the second quarter ending 30 June 2025. The company reported a 16% year-over-year increase in revenue excluding interest income.
The revenue surge has been attributed to an 11% rise in transaction volume and an expansion in take rates among small and medium-sized business customers.
Average revenue per user excluding interest income rose by 21% year-over-year for the fourth consecutive quarter of growth over 20%. This was supported by growth in high-value customer profiles, B2B transactions, checkout services, card services, and pricing strategies.
