MEXC On-Chain Daily Report: DBS and Citi Enable Instant 24/7 Cross-Border USD Payments With Tokenized Deposits

DBS Bank and Citi have successfully completed a pilot program utilizing tokenized deposits to facilitate instant, 24/7 cross-border USD payments. This initiative leverages the Singapore-based DBS bank's infrastructure and Citi's global treasury network to streamline liquidity management and settlement processes. By utilizing tokenized deposits, the banks aim to eliminate the inefficiencies associated with traditional correspondent banking, such as delayed processing times and limited operating hours. The pilot demonstrated the ability to execute near-instantaneous transfers, significantly reducing the friction typically found in international financial transactions. This development marks a notable shift toward the institutional adoption of blockchain-based settlement layers for traditional banking services. As major global financial institutions continue to integrate tokenized assets, the broader RWA market gains increased legitimacy and technical validation. The success of this collaboration highlights the growing trend of banks transitioning from experimental blockchain pilots to functional, high-value payment solutions.