Centiglobe adds Greenbridge Markets as On-Demand Liquidity Provider

Centiglobe, the Swedish cross-border payment network, has added Greenbridge Markets as an on-demand liquidity provider, allowing member banks, payment firms and e-money institutions to convert between the network's tokenised deposits and fiat cash without holding capital in reserve ahead of every payment.

Greenbridge joins Centiglobe Connect as what the company describes as an independent Affiliate Member, a counterparty that exchanges the network's bank-agnostic tokenised deposits for fiat, and fiat for tokenised deposits, on demand. According to the companies, the arrangement is intended to let members hold less idle capital and vary when and how much liquidity they keep on hand.

What does the arrangement address?

Cross-border networks that route around correspondent banks still require money in two forms. Members collect fiat from customers and pay out fiat locally, but settle with each other in tokenised deposits, so conversion between the two is needed at the point of payment rather than in advance.

This relates to the pre-funding requirement across the sector. Under the traditional nostro and vostro model, an institution holds balances in every currency and corridor it serves before any payment can settle, sized to cover expected flows plus a buffer. The Bank for International Settlements has noted that such pre-funded balances represent a large and largely unproductive use of capital across the banking system. Estimates of the amount held idle vary by what is counted, ranging from hundreds of billions to, on some measures, more than ten trillion dollars globally.

Centiglobe's model replaces scattered local accounts with centralised collateral: members place digital collateral with a licensed custodian and transact in tokenised deposits mirrored on the network, which typically operates in US dollars and euros. The Greenbridge arrangement adds a conversion point, so members can draw tokenised deposits to fund an outgoing payment, or convert them back to cash to replenish their position.

How does a liquidity provider fit a network built without intermediaries?

Centiglobe describes Centiglobe Connect as a peer-to-peer network that settles between members without intermediaries. Adding a dedicated liquidity counterparty to handle fiat-to-token conversion introduces a further party to the arrangement, though at the point where tokenised value meets the banking system rather than within a payment between two members.

Centiglobe's position is that Greenbridge does not sit between two members on a payment but provides an optional conversion service at the edge of the network, and that members are not required to use it. For treasury teams, the relevant considerations include counterparty exposure and conversion pricing where a single provider supplies on-demand liquidity.

What is known about Greenbridge Markets?

Independent information on the firm is limited. Greenbridge Markets describes itself as an independent liquidity and conversion specialist for tokenised deposits and other forms of digital cash, and says its team has combined experience across electronic trading, market-making, fixed income and foreign exchange from major banks and market-infrastructure businesses. FinanceX could not independently verify these claims, the firm's track record, or the scale of liquidity it can commit, and no partnership terms were disclosed. These details remain company-stated.

Centiglobe has a more established public profile. It operates Centiglobe Connect as a permissioned distributed-ledger network built on bank-agnostic tokenised deposits held with third-party custodians, and is a partner in Mastercard's Move programme, which gives connected members access to Mastercard's payout markets through a single integration.

How large is the cross-border payments market?

The B2B cross-border payments market exceeded 34 trillion dollars in 2021 and is forecast by Juniper Research to pass 42 trillion dollars in 2026. FXC Intelligence puts the total cross-border market above 194 trillion dollars, with a forecast approaching 320 trillion by 2032. Incumbents including Swift and Visa, alongside a range of newer entrants, are building settlement infrastructure on tokenised deposits and stablecoins.

Stablecoins address a similar set of problems through a different instrument. Analysis by McKinsey and Artemis found that stablecoin payment volume, excluding trading and internal transfers, was around 390 billion dollars in 2025. Tokenised deposits, the model Centiglobe uses, represent bank money on a ledger, issued by the institution itself and backed by its deposits, rather than an instrument issued by a separate private entity.

Why This Matters to FinanceX Readers

For finance professionals, the development points to where tokenised-deposit networks are focusing next. With settlement between members largely addressed, attention has moved to liquidity at the edges, where tokenised value is converted to and from fiat, and networks are adding third-party providers to handle that conversion.

For treasury and investment teams, the main considerations are commercial rather than technical. An on-demand liquidity provider adds a counterparty relationship to assess on creditworthiness, pricing transparency and reliability under stress. The capital-efficiency case rests on who supplies the liquidity, on what terms, and how conversion pricing behaves as volumes change.