Citi executives directly poured cold water on it; tokenized money sounds great, but real-time cross-bank transfers are the true necessity for businesses, and this hurdle isn't easy to overcome.

Ryan Rugg, an executive at Citi, said at Consensus in Miami that tokenized money efforts face limits as corporate clients demand real-time payments that work seamlessly across banks. Rugg's comments highlight concerns that fragmented cryptocurrency systems could repeat challenges from traditional ba