DBS, Citi Complete First Weekend Tokenized Cross-Border Deposit on Swift

Citi, DBS test instant U.S.-Singapore payments

Citi and DBS completed a weekend tokenized dollar payment between Singapore and New York in minutes using Swift’s blockchain ledger.

DBS, Citi Complete First Weekend Tokenized Cross-Border Deposit on Swift

Citi and DBS completed their first tokenized cross-border transfer over the weekend, using Swift’s blockchain-based ledger to circumvent the constraints of traditional banking hours.

DBS, Citi bypass traditional banking hours with weekend tokenised deposit payment

Standard cross-border settlement can take up to 2 business days due to time zones, weekend closures. Read more at straitstimes.com.

DBS, Citi bypass traditional banking hours in cross-border tokenised deposit trial

Standard cross-border settlement can take up to 2 business days due to time zones, weekend closures Read more at The Business Times.

Citi and DBS Set Milestone with First Tokenized Cross-Border Deposit via Swift

DBS and Citi have completed the first tokenized cross-border payment between Singapore and the United States over a blockchain-based settlement rail, marking a concrete step in banks’ shift from traditional transfer timelines toward near-instant processing. The transaction was executed on Saturday using tokenized deposits via the Swift Digital Ledger, according to DBS, which said the [...]

DBS and Citi complete first weekend cross-border USD payment using tokenized deposits on Swift's blockchain ledger

The successful use of tokenized deposits for cross-border payments could revolutionize global banking by enabling real-time transactions 24/7.