Citi, Solana, and PwC are partnering to explore tokenizing bills of exchange and moving them entirely onchain, as revealed in a report from Citi.
- Solana claims that Citi has already tokenized the first bill of exchange on its blockchain and completed the entire lifecycle.
A recent report from Citigroup highlights the bank’s interest in utilizing blockchain technology to enhance global trade amidst challenges such as tariffs, AI, and geopolitical tensions impacting supply chains.
The 2026 Citi Supply Chain Financing report discusses how global trade has been affected by various macroeconomic factors, but emerging technologies like blockchain and AI have played a key role in adapting supply chains to remain competitive.
Citi specifically mentions a collaboration with Solana and PwC to explore tokenization for streamlining the issuance of bills of exchange.
The project, under Citi Trade, has successfully completed a proof of concept demonstrating the tokenization of a bill of exchange on a blockchain, encompassing issuance, financing, distribution, and settlement processes.
Although Citi describes the project as still in the proof-of-concept phase, Solana claims the product is already operational, showcasing the successful tokenization and execution of a bill of exchange on its network.
Exploring Solana for Global Trade
Citi is among several global entities leveraging Solana for their initiatives, joining the likes of Alibaba, which recently boosted Solana RPC nodes to enhance trading efficiency.
Wall Street firms are increasingly building on Solana, with WisdomTree expanding access to the network and setting records for tokenized real-world assets.
Solana Foundation president, Lily Liu, emphasizes the network’s focus on financial infrastructure for the internet, in contrast to Bitcoin’s role as a crypto asset.
Despite recent market downturns, SOL’s performance has been impacted, with a notable decrease in value over the past week and months.