Citi, in partnership with PwC and the Solana blockchain, is exploring the transformation of bills of exchange into tokenized digital assets as part of its 2026 Supply Chain Financing report. The proof of concept examines how a traditional trade finance instrument can be represented on-chain, potentially improving liquidity access and reducing the settlement friction that characterizes cross-border trade.
The tokenization initiative addresses a persistent structural problem in trade finance: the 2.5 trillion dollar funding gap that leaves small and medium enterprises underserved. Traditional trade finance underwriting requires manual document review, correspondent banking relationships, and credit assessments that make sub-million-dollar transactions uneconomical for large banks. Tokenized instruments could enable fractional participation from non-bank capital providers, expanding the funding pool.
Separately, Citi’s report documents a sharp increase in corporate treasurers deploying AI for trade finance operations. AI-powered underwriting can automate the analysis of SME financial information, supporting more dynamic credit decisions based on transaction history and supply chain data rather than static financial statements. This shifts the cost curve enough to make smaller transactions viable.
The convergence of tokenization and AI in trade finance reflects a broader industry pattern: legacy instruments are being re-platformed onto programmable infrastructure while AI reduces the operational cost of risk assessment. PrimeRevenue, named Global Finance Best Supply Chain Finance Provider for two consecutive years, now operates across 102 countries with nearly 60,000 enrolled suppliers and more than 105 funding partners, demonstrating the scale that technology-enabled platforms can achieve in a market historically dominated by bilateral bank relationships.
