Citi Becomes First Bank to Launch Multi-Market Instant Payments on Swift

Citigroup launched multi-market instant payments through the Swift payments scheme. It is the first bank to offer this solution.

The new solution enables bank clients to send real-time cross-border payments to multiple markets. It uses a single account structure, removing the need for separate local banking relationships and infrastructure.

Citi delivers the service via its WorldLink® Payment Services and global clearing network.

Initially, the service supports payments in Australian dollars, British pounds, Indian rupees, and U.S. dollars. Citi plans future expansion into other markets.

This initiative addresses growing demand from institutional clients for 24/7, real-time cross-border payments and settlements.