#DBS
2 articles tagged #DBS — curated RWA tokenization coverage.
Citi, DBS Complete First Weekend Tokenized Deposit Transfer on Swift Ledger
Citi and DBS have successfully executed a cross-border transfer of tokenized deposits using the Swift Digital Ledger, marking the first time such a transaction occurred over a weekend. By processing the remittance outside of traditional banking hours, the banks achieved final settlement in mere minutes, a significant improvement over the standard two-day processing window. This milestone follows Swift's July announcement regarding the rollout of its blockchain-based ledger, which involves 17 major global financial institutions including HSBC, UBS, and Standard Chartered. The successful pilot demonstrates the potential for blockchain technology to eliminate the friction and time delays inherent in legacy cross-border payment systems. This development is part of a broader industry trend where major banks are actively building infrastructure for tokenized deposits to modernize interbank settlements. Citi is currently working toward launching a dedicated tokenized deposit network by the first half of next year, while DBS continues to collaborate with JPMorgan on an on-chain interbank transfer framework. These initiatives collectively signal a shift toward 24/7 global liquidity management through institutional-grade distributed ledger technology.
DBS, Citi bypass traditional banking hours in cross-border tokenised deposit trial
DBS and Citigroup successfully executed a cross-border US dollar payment on a Saturday, demonstrating the potential for tokenized deposits to bypass traditional banking hours. By utilizing the Swift Digital Ledger, the banks completed the transaction in minutes, effectively eliminating the two-day settlement delays typically caused by time zone mismatches and weekend closures. This milestone highlights a shift from experimental blockchain projects to practical, real-world adoption for global liquidity management. As digital industries like e-commerce demand 24/7 financial services, the ability to move capital outside of standard banking windows becomes a critical competitive advantage. The initiative aligns with broader industry trends, as 50 percent of finance leaders are now exploring blockchain-powered tools for foreign-exchange and liquidity risk. With outbound cross-border payment volumes in Asia projected to reach US$24 trillion by 2033, this trial underscores the growing necessity for instantaneous value transfer infrastructure. DBS, a member of Swift’s core design group, expects its investment in tokenized finance to rival traditional payment spending within three years.