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DBS and Citi Cut Cross-Border USD Payment Time to Minutes with Tokenized Deposits

Guavy AI Editorial Team
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DBS and Citi have successfully processed a cross-border USD payment using tokenized deposits, reducing settlement time from two business days to just minutes.

The transaction took place over the weekend on Swift's Digital Ledger, highlighting the potential of blockchain-based infrastructure for real-time institutional payments.

According to DBS, 50% of finance decision makers are researching how to adopt tools with blockchain for better foreign exchange and liquidity management.

The payment is part of DBS' wider digital asset agenda, which includes tokenized solutions for treasury and the DBS Token Services platform.

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