DBS and Citi Complete First 24/7 Cross-Border Payment via Swift Blockchain

DBS and Citi successfully executed a cross-border USD payment between Singapore and the U.S. on a weekend using tokenized deposits. The transaction, processed on September 5 via the Swift Digital Ledger infrastructure, took only minutes, bypassing the typical 1-2 business day wait for international transfers. This solution utilizes tokenized bank deposits rather than stablecoins, aiming to combine blockchain speed with regulated traditional finance infrastructure. The pilot, part of a broader Swift initiative involving 12 banks, is scheduled to run through