DBS and Citigroup have successfully executed cross-border US dollar transactions between Singapore and the United States using tokenized deposits over the Swift digital ledger. According to a joint statement released on September 7, 2026, the settlement was finalized within minutes, marking a drastic reduction from the traditional two-business-day standard for international wire transfers.

The financial institutions highlighted that near-instantaneous settlement provides critical liquidity advantages and cash-flow predictability for round-the-clock global sectors, including e-commerce and digital services. For Citi, the milestone aligns with its broader Asia-South services strategy to merge conventional treasury management with decentralized network architecture. Simultaneously, DBS noted that the initiative builds upon its proprietary digital asset suite—which encompasses DBS Token Services for 24/7 programmable payments and DBS Treasury Tokens for real-time liquidity management—while leveraging Swift’s infrastructure to bridge legacy banking rails with next-generation digital networks.