Citi, DBS complete first weekend tokenized cross-border deposit on Swift
60-second summary
Citi and DBS execute their inaugural tokenized cross‑border deposit via SWIFT’s blockchain‑based ledger, completing the transfer over the weekend and bypassing traditional banking hour constraints; the pilot moves millions of dollars instantly, demonstrating how distributed‑ledger technology can streamline interbank settlements, and signals broader industry momentum toward faster, 24/7 crypto‑enabled payment infrastructures.
Citi and DBS completed their first tokenized cross-border transfer over the weekend, using Swift’s blockchain-based ledger to circumvent the constraints of traditional banking hours.