Weekend Tokenized Payment
DBS and Citi complete first weekend tokenized USD payment using SWIFT ledger.
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Key Points
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DBS Group Chief Operating Officer Rachel Chew said the transaction showed tokenized money was moving “from experimentation to real-world adoption,” laying the foundations for a more connected and always-on financial system.
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Citi is part of a group of major U.S. banks planning a tokenized-deposit network through The Clearing House, with a targeted launch in the first half of 2027.
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DBS is the only Asian-headquartered bank among SWIFT’s 12-bank Digital Ledger core design group and launched a blockchain-powered banking suite in 2024 that includes DBS Treasury Tokens for liquidity management.
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The DBS-Citi payment was the second confirmed live transaction on SWIFT’s blockchain ledger; Simon Taylor reported that UOB is expected to participate in the next transaction.
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SWIFT’s roughly $1.5 quadrillion network is facing pressure from stablecoins and tokenized deposits that can settle around the clock; the network rolled out its blockchain ledger in July with 17 participating banks.
DBS and Citi completed the first reported weekend tokenized U.S. dollar payment between Singapore and New York on September 5, settling in minutes via SWIFT's Digital Ledger. The transaction moved funds outside traditional banking hours — a capability that normally takes up to two business days due to weekends and time-zone delays. Finance Feeds reported that the test demonstrated banks can now shift dollar liquidity around the clock for businesses with continuous international operations.
This marks the second confirmed live transaction on SWIFT's blockchain ledger, following an August transfer by HSBC and Standard Chartered, as Coin Edition reported. The milestone signals that tokenized money is moving from experimentation into real-world adoption, laying groundwork for an always-on global financial system amid growing competition from stablecoins and other round-the-clock payment technologies.
Banks Move Beyond Traditional Weekend Closures
Conventional cross-border payments settle in up to two business days because banks close on weekends and operate in different time zones. Crypto Ninjas reported that DBS and Citi's tokenized payment cut this to minutes, enabling settlements outside normal hours. The test proves tokenized deposits can support businesses that operate globally without pause.
DBS Group Chief Operating Officer Rachel Chew said the transaction showed tokenized money was moving "from experimentation to real-world adoption." Tron Weekly noted the breakthrough demonstrates how blockchain-based systems can create a more connected financial infrastructure that never sleeps.
SWIFT's Blockchain Ledger Gains Steam With Major Banks
SWIFT launched its blockchain-based Digital Ledger in July with 17 participating banks. The DBS-Citi payment was only the second confirmed live transaction, signaling early momentum in adoption. Crypto Economy reported that SWIFT's $1.5 quadrillion network is facing pressure from stablecoins and tokenized systems that can settle continuously, prompting the shift to blockchain infrastructure.
DBS is the only Asian-headquartered bank in SWIFT's 12-bank Digital Ledger core design group. The bank launched a blockchain-powered banking suite in 2024 that includes DBS Treasury Tokens for liquidity management, positioning it as a leader in tokenized finance across Asia.
U.S. Banks Plan Their Own Tokenized Network for 2027
Citi is part of a group of major U.S. banks planning a separate tokenized-deposit network through The Clearing House, a major payments infrastructure operator. Finance Feeds reported the network targets launch in the first half of 2027, giving U.S. institutions their own blockchain-based payment rails separate from SWIFT's system.
This dual-track approach — SWIFT's global ledger and a U.S.-focused network — suggests banks are hedging their bets on blockchain adoption. Crypto Ninjas noted that UOB is expected to join the next transaction on SWIFT's ledger, expanding the ecosystem of live tokenized payments among major global lenders.
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