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

DBS and Citi have successfully completed the first weekend cross-border USD payment utilizing tokenized deposits on the Swift blockchain ledger. This achievement allows financial institutions to bypass traditional banking hour constraints, enabling real-time transactions 24/7. By leveraging this blockchain-based technology, the two banks demonstrated a method to revolutionize global banking operations. The successful transfer marks a significant milestone in the implementation of tokenized deposits for efficient, around-the-clock international payment processing across borders.