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CITI is set to make an appearance at the upcoming Future Of Digital Assets event powered by Benzingaon Nov 14 in NYC. Secure a spot here with code BZ10 for a 10% discount.

In less than a week after Deutsche Bank DB and HSBC HSBC partnered with other companies for digital asset custody, Citigroup IncC has now turned to the digital asset space to launch tokenized digital assets using its own wallet and blockchain.

Citi's Token Service will provide cross-border paymentsand liquidity all around the clock.

Read More: Deutsche Bank Joins Crypto Wave: Partners With Taurus For Digital Asset Custody

What Happened: Citigroups Citi Treasury and Trade Solutions launched Citi Token Services for delivering digital asset solutions to institutional clients using blockchain and smart contract technologies. For better cash management and enhancing trade finance capabilities, the service will integrate tokenized deposits and smart contracts into Citis global network.

Citi Token will convert customer deposits into digital tokens which can be transferred anywhere in the world. The client will not have to set up their own digital wallet and will be able to access the service through the banks existing systems. The bank will depend on a private blockchain owned and managed by the bank.

Find out how digital assets are changing the face of traditional banks! Meet and engage with transformativeDigital Asset and Cryptobusiness leaders and investors at Benzinga's exclusive event:Future of Digital Assets. Tickets are flying:Get yours!

In the first week of September, JPMorgan Chase & Co JPM was looking at developing a blockchain-based digital deposit token for enhancing international transaction settlements. The bank is likely to introduce this product to corporate clients within 2024.

The Regulated Liability Network: The offering cameamid Citis participation in a month-long test of a Regulated Liability Network wherein a unit of the Federal Reserve Bank of New York and other global banks also participated. The test will allow banks to simulate issuing digital money representing their customers own funds before settling through central bank reserves on a distributed ledger.

The result led to the finding that the use of digital dollars can improve wholesale payments.

Frictions related to cutoff times and gaps in the service window will be reduced, the global head of digital assets at Citigroups treasury and trade solutions division commented.

Also Read: Third Largest US Bank Citigroup In Layoff Talks After Management Restructure

As a pilot program, Citi served Maersk and a canal authority by digitizing solutions such asbank guarantees and letters of credit. The solution used in the pilot program led to instant payment capabilities to buyers and sellers which reduced transaction processing times from days to minutes.

Know about how other companies have implemented this service! Meet and engage with transformativeFintech businessleaders and investors at Benzinga's exclusive event:Fintech Deal Day. Tickets are going fast:Get yours!

Photo: Shutterstock

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Entertainment

Excitement builds for Oscars – but Hollywood still reeling from wildfires

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Excitement builds for Oscars - but Hollywood still reeling from wildfires

As Hollywood celebrates the film industry at this weekend’s Academy Awards, not far away from where finishing touches are being put to the red carpet, communities are still coming to terms with the impact of the wildfires which ravaged areas of Los Angeles earlier this year. 

Prop master Adam Jette – and his wife and son – lost their home in Altadena.

“Even coming back into the neighbourhood is really, really hard,” he tells Sky News.

“You’re coming back to what it is, which is a disaster site, the whole neighbourhood is gone.”

He says he and others in the same position have no choice but to keep going.

“We all have to keep working in order to support ourselves, in order to have our health insurance, in order to be able to move forward and rebuild.

“And yet the only thing you want to do is just, you know, sit there in misery.”

More on California Wildfires

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Oscars 2025: Sky News team makes predictions

In Hollywood, few productions have had to be paused because less is being shot here these days, the fires adding to the existential crisis the city was already facing.

Wes Bailey’s company SirReel has been renting out film and TV production equipment in Los Angeles since the 1990s – but in recent years work in the city of dreams has dried up.

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First COVID-19, then strikes and now, after a race for scale to commission content for streaming platforms, the industry is facing a production contraction and Bailey says it needs help.

“The fires were, I think, the catalyst to really get people to say ‘we’ve got an emergency here’,” he says.

“You go into the UK and you get a 40% return on your money.

“I think the way that California delivers that incentive has been sloppy, it’s been inconsistent.”

For glossy reality show Selling Sunset, set around high-end real estate in LA, production has now resumed after pausing when the fires broke out.

Jason Oppenheim
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Jason Oppenheim

One of the show’s stars, Jason Oppenheim, says he’s had “many, many” emotional calls from clients.

“I’m 30% therapist right now, 20% attorney, 20% contractor and 30% real estate agent,” he tells Sky News.

He says Los Angeles has issues that need resolving if it wants to continue to attract investment.

“We obviously have a crime problem, we have a homelessness problem, we’ve obviously taxed to the point where we discourage development, and we obviously have seen significant loss of wealthy people leaving the state.

“If you really want to have a healthy, functioning society that’s egalitarian and creates opportunity for everyone, you’re going to need a lot of wealthy people in that city paying taxes, so you cannot force them away and that’s just a fact.”

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The Oscars A-Z guide

Yet despite the frustration, he’s optimistic for the future of the Palisades – another area devastated by the fires.

“I would bet anything that the Palisades will be one of the most desirable areas on the planet to live in five years,” he says.

“The houses will be stunning, fireproof, beautiful architecture.”

But that seems a long way off now, and in the meantime for those left with nothing the little they can salvage becomes special.

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Ultimate guide to film awards season

For Adam Jette that’s even an iron saucepan.

“To be able to pull anything out of this wreckage and have it, it’s so meaningful,” he says.

“It didn’t take our pets and it didn’t take our family, it just took stuff, but even just some of that surviving it really, it means something.”

Buried in the ashes following the wildfires is a lesson in what matters to those who keep this industry going – and it’s not red carpets or golden statuettes.

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Entertainment

Brit Awards 2025: Who is performing, who’s nominated and how to watch

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Brit Awards 2025: Who is performing, who's nominated and how to watch

Tonight’s Brit Awards are shaping up to be a big night for female British artists, including Charli XCX and Dua Lipa.

The ceremony, which is taking place at London’s O2 Arena, will see artists who are currently dominating the charts come together to celebrate the best in popular music.

Leading nominations with five nods is Charli XCX, whose sixth album Brat was a viral hit last year.

Dua Lipa closely follows with four nominations – along with 2024 rising star winners The Last Dinner Party, and 2023 Mercury Prize winners Ezra Collective.

Here is everything you can expect from the biggest night in British music.

Charli xcx. Pic: Harley Weir
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Charli XCX leads this year’s nominations. Pic: Harley Weir

What will happen?

Comedian Jack Whitehall is returning to host this year’s ceremony.

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It will be his first time at the helm in four years, but fifth in total, after taking on the role for four consecutive years from 2018 to 2021.

Pic: John Marshall/JMEnternational
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Host Jack Whitehall. Pic: John Marshall/JMEnternational

There are 16 categories for awards this year, including the big one – album of the year.

In the running for this is Charli XCX – BRAT, The Cure – Songs Of A Lost World, Dua Lipa – Radical Optimism, Ezra Collective – Dance, No One’s Watching and The Last Dinner Party – Prelude to Ecstasy.

Other awards up for grabs include: Artist of the year, group of the year, best new artist, song of the year, international artist of the year, international group of the year, international song of the year, alternative rock act, hip-hop/grime/rap act, dance act, pop act and R&B act.

Last year’s ceremony saw singer-songwriter Raye dominating, with a record number of six wins including a clean sweep of the big three; best artist, best song and best album.

This year, the trophy that winners will pick up on the night has been designed by artist Gabriel Moses.

This year's Brit award trophy designed by Gabriel Moses. Pic: BRITs
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This year’s Brit Award trophy designed by Gabriel Moses. Pic: Brit Awards

Who is nominated?

Before the awards have even begun, Charli XCX has been announced as the winner of this year’s songwriter of the year award.

Also recognised is her longtime collaborator AG Cook, winning Brits producer of the year, reflecting the combined impact he and Charli XCX have had on music over the last 12 months.

The singer – whose real name is Charlotte Aitchison – could still pick up another five awards tonight including: pop act, dance act, song of the year, artist of the year and album of the year.

Behind Charli XCX, this year also sees The Beatles pick up a nomination for the song Now And Then.

The song, which was finished by Sir Paul McCartney and Sir Ringo Starr with the help of audio restoration and released in November, is the band’s first nomination since 1977.

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The Brits go brat: 2025 nominations revealed

The Cure are also back with three nominations – following the release of their 14th album, Songs Of A Lost World, in 2024.

International artists such as Beyonce, Billie Eilish, Taylor Swift, Benson Boone, Chappell Roan and Kendrick Lamar have also all got nods, as well as homegrown talent such as Central Cee, Fred again.., Sam Fender and former Little Mix star JADE.

Dua Lipa. Pic: Oscar Douglas
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Dua Lipa is nominated for four awards. Pic: Oscar Douglas

Sabrina Carpenter will become the first international artist to receive the global success award after breaking records in the UK charts.

The pop star held the top spot on the Official UK Charts for a combined 21 weeks in 2024, the first artist to do so in 71 years.

Sabrina Carpenter, center, performs a medley during the 67th annual Grammy Awards on Sunday, Feb. 2, 2025, in Los Angeles. (AP Photo/Chris Pizzello)
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Sabrina Carpenter at the Grammys. Pic: AP/Chris Pizzello

Her mega-hits Taste, Please Please Please and Espresso held the top three spots simultaneously, making her the first female artist to do so.

Already named as this year’s rising star is British singer-songwriter Myles Smith, whose single Stargazing became one of the UK’s biggest hits of 2024.

You can read the full list of nominations ahead of tonight, right here.

The Cure. Pic: Andy Vella
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The Cure. Pic: Andy Vella

Who is performing?

Taking to the stage at this year’s ceremony is a mix of UK and US artists including Sam Fender, JADE, Teddy Swims and Myles Smith.

Off the back of winning the award for global success, Sabrina Carpenter, will also treat audiences to a performance.

It comes after Carpenter’s slapstick comedy mashup performance at the Grammy’s was dubbed “iconic” by fans.

The Last Dinner Party. Pic: Brit Awards
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The Last Dinner Party will take to the stage to perform. Pic: Brit Awards

It is the first year American artists Shaboozey, known for A Bar Song (Tipsy) and Teddy Swims, known for Lose Control, will also perform at the awards.

“I’m beyond grateful and humbled to not only be nominated for a Brit Award but to take the stage,” Shaboozey said.

“This past year has been huge for me with my records getting love from all over the world and now I can celebrate with my friends and fans in London.”

Myles Smith is this year's Brit Awards rising star winner. Pic: JM Enternational
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Myles Smith is this year’s Brit Awards rising star winner. Pic: JM Enternational

Meanwhile, JADE, whose real name is Jade Thirlwall, said she “manifested” performing at the Brits every day since the release of her debut solo single Angel Of My Dreams last year.

The singer already has three Brit Awards to her name, winning best British single for Shout Out To My Ex, video of the year for Woman Like Me and best British group with Little Mix, but is nominated this year as a solo artist in the song of the year and pop act categories.

Former Little Mix star JADE. Pic: Flore Barbay
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Former Little Mix star JADE. Pic: Flore Barbay

Also performing on the night are Lola Young – who is nominated for best pop act – and The Last Dinner Party, who won the Brits rising star award last year.

How to watch

Live coverage of the Brits will start on ITV and ITVX from 8.15pm tonight.

You can also follow along with all the latest from the red carpet and ceremony on Sky News and our dedicated live blog.

For those outside the UK, the show is available to watch internationally on the Brits YouTube channel.

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Politics

US judge tosses SEC fraud suit against Hex founder Richard Heart

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US judge tosses SEC fraud suit against Hex founder Richard Heart

A US judge tossed the SEC’s case against Hex founder Richard Heart, stating it couldn’t decide whether he defrauded investors of $12.1 million because the US lacked jurisdiction.

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