{"id":12937,"date":"2026-09-08T05:47:25","date_gmt":"2026-09-08T05:47:25","guid":{"rendered":"https:\/\/cryptonews.uk.com\/?p=12937"},"modified":"2026-09-08T05:47:25","modified_gmt":"2026-09-08T05:47:25","slug":"dbs-and-citi-complete-first-weekend-tokenised-cross-border-payment","status":"publish","type":"post","link":"https:\/\/cryptonews.uk.com\/?p=12937","title":{"rendered":"DBS and Citi Complete First Weekend Tokenised Cross-Border Payment"},"content":{"rendered":"<p><\/p>\n<div>\n<div id=\"blockquote-block_384af32f21c69e13d655bd21ad6b44d4\" class=\"blockquote-container\" style=\"border-color: #5100fc\">\n<div class=\"blockquote-text\">\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">DBS and Citi completed what they called the first weekend cross-border US dollar payment between Singapore and the United States on Saturday, settling in minutes using tokenised deposits on Swift\u2019s blockchain-based ledger.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Tokenised deposits are claims on commercial-bank money that can move around the clock; the funds stayed inside regulated banking channels rather than circulating as a public stablecoin.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The transfer ran on a Swift ledger pilot launched in July with 17 banks across six continents, including HSBC, Citi, DBS, Standard Chartered, UBS and BNP Paribas.<\/span><\/li>\n<\/ul>\n<\/div>\n<\/div>\n<p class=\"wp-block-paragraph\">DBS and Citi settled a cross-border US dollar payment between Singapore and New York in minutes on Saturday, using tokenised deposits on Swift\u2019s blockchain-based ledger to bypass the weekend closure of traditional payment systems.<\/p>\n<p class=\"wp-block-paragraph\">The transaction ran through Citi\u2019s New York office on September 5 and cleared in minutes, the banks said, against the up to two business days a conventional cross-border dollar transfer can take when weekends and time zones intervene.\u00a0<\/p>\n<p class=\"wp-block-paragraph\">DBS called it the first successful weekend dollar payment between the two markets. \u201cProcessing a live transaction over a weekend demonstrates that always-on cross-border payments are already a reality\u201d, said Mridula Iyer, Citi\u2019s head of services for Asia South.<\/p>\n<p class=\"wp-block-paragraph\">The weekend transfer was the second live payment recorded on Swift\u2019s ledger. HSBC and Standard Chartered completed the first in August, moving funds on the same infrastructure between their own books.<\/p>\n<p class=\"wp-block-paragraph\"><strong>Read more: Bitcoin ETFs Stage Comeback While XRP Funds Rack Up 11-Day Inflow Streak<\/strong><\/p>\n<h2 id=\"h-bank-money-on-a-shared-ledger\" class=\"wp-block-heading\">Bank Money on a Shared Ledger<\/h2>\n<p class=\"wp-block-paragraph\">A tokenised deposit is a claim on money held at a commercial bank, recorded on a shared ledger so it can be transferred at any hour and redeemed through the issuing bank. The money stays inside the regulated banking system, unlike a stablecoin that circulates as a token on public networks.\u00a0<\/p>\n<p class=\"wp-block-paragraph\">Each bank issues the deposits on its own ledger, and the funds can move overnight and at weekends before final settlement clears through existing rails. Swift\u2019s ledger sequences the transfers between participating banks, so the record of who owes whom updates in real time even when the underlying settlement systems are closed.<\/p>\n<p class=\"wp-block-paragraph\">Swift said in July that its blockchain-based ledger was ready for initial use, opening a pilot with 17 banks across six continents to test around-the-clock tokenised payments. DBS is the only Asian-headquartered member of the 12-bank group designing the system.<\/p>\n<p class=\"wp-block-paragraph\"><strong>Read more: Strategy CEO Defends Bitcoin Sale as Company Ramps Up Buying Again<\/strong><\/p>\n<\/p><\/div>\n<p>Citi,Payments#DBS #Citi #Complete #Weekend #Tokenised #CrossBorder #Payment1788846445<\/p>\n","protected":false},"excerpt":{"rendered":"<p>DBS and Citi completed what they called the first weekend cross-border US dollar payment between Singapore and the United States on Saturday, settling in minutes using tokenised deposits on Swift\u2019s blockchain-based ledger. Tokenised deposits are claims on commercial-bank money that can move around the clock; the funds stayed inside regulated banking channels rather than circulating<\/p>\n","protected":false},"author":1,"featured_media":12938,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[3385,4420,1288,6790,2015,488,1791],"class_list":["post-12937","post","type-post","status-publish","format-standard","has-post-thumbnail","category-bitcoin","tag-citi","tag-complete","tag-crossborder","tag-dbs","tag-payment","tag-tokenised","tag-weekend"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.6 (Yoast SEO v26.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>DBS and Citi Complete First Weekend Tokenised Cross-Border Payment - Crypto News: Latest Cryptocurrency News and Analysis<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptonews.uk.com\/?p=12937\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"DBS and Citi Complete First Weekend Tokenised Cross-Border Payment\" \/>\n<meta property=\"og:description\" content=\"DBS and Citi completed what they called the first weekend cross-border US dollar payment between Singapore and the United States on Saturday, settling in minutes using tokenised deposits on Swift\u2019s blockchain-based ledger. 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