DBS, OCBC, and UOB complete interbank tokenized deposit settlement via Swift

DBS Bank, OCBC Bank, and UOB have completed the first domestic interbank transaction using tokenized deposits in Singapore, leveraging Swift's blockchain-based ledger. The ledger facilitated the reconciliation and netting of obligations, with final settlement occurring through existing systems. This follows a recent cross-border USD settlement between DBS and Citi using the same technology.