News ยท Institutions & ETFs
The banks settled an instant Singapore-US transaction using tokenized deposits, circumventing traditional multi-day clearing windows.
Key point 1 of 3
01
DBS and Citi settled a cross-border USD transaction between Singapore and the US on Sept. 5, 2026, using tokenized deposits via Swift Digital Ledger.
Key point 2 of 3
02
The payment processed in minutes over a weekend, improving on standard international settlement windows of up to two business days.
Key point 3 of 3
03
DBS is the only Asian bank among the 12 institutions in Swift's digital ledger core design group shaping the infrastructure architecture.
Context
Traditional cross-border settlement rails depend on correspondent banking networks, which pause operations over weekends and outside local clearing system hours.
Why it matters
Multinational corporations, digital commerce entities, and institutional treasurers gain the ability to mobilize dollar liquidity 24/7 without multi-day settlement risk.
What to watch
Expansion of the Swift Digital Ledger group to include additional commercial participants and publication of full commercial deployment dates.
Sources
Built from 1 primary source, machine-checked before publication.
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