World · Infrastructure · Global ·
Citi and DBS complete tokenized weekend deposit transfer on Swift
Citibank and DBS Bank settled a cross-border USD payment over the weekend using Swift's blockchain-based Digital Ledger, converting bank deposits into tokens to bypass traditional banking hours. The transaction marks the second confirmed live use of Swift's blockchain settlement network.
Why it matters for the crypto market
Demonstrates institutional adoption of blockchain infrastructure for real-time cross-border payments outside traditional banking windows, reducing settlement friction for major global banks.
Source: CoinDesk
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