DBS and Citi Launch 24/7 Cross-Border Payments Using Tokenized Deposits

• DBS and Citi have partnered on 24/7 cross-border USD payments.
• The solution uses tokenized deposits on Swift’s blockchain-based ledger.
• The initiative aims to deliver instant cross-border settlement for participating institutions.

DBS and Citi have announced a partnership to enable instant, 24/7 cross-border U.S. dollar payments using tokenized deposits on Swift’s blockchain-based ledger.

The collaboration is designed to modernize international payments by allowing participating financial institutions to settle transactions around the clock, reducing delays associated with traditional banking hours and cross-border payment systems.

The initiative reflects the growing adoption of blockchain technology within the global banking industry.

Tokenized Deposits Power Real-Time Settlement

The new payment model uses tokenized bank deposits, which represent traditional bank deposits in digital form on a blockchain-enabled infrastructure.

By leveraging Swift’s blockchain-based ledger, the system aims to improve the speed and efficiency of international USD transfers while maintaining compatibility with existing banking networks. The approach combines the benefits of distributed ledger technology with regulated banking infrastructure.

Tokenized deposits are increasingly being explored by major financial institutions as an alternative to conventional payment rails.

Banks Continue Advancing Digital Finance

The latest DBS Citi tokenized deposits partnership highlights the accelerating adoption of blockchain technology in traditional finance.

As banks invest in tokenization and real-time settlement solutions, collaborations like this could reshape the future of cross-border payments. Industry participants will be watching how the initiative develops and whether similar models are adopted more broadly across the global financial system.