Citi completed live transactions with First Abu Dhabi Bank and Singapore-based OCBC on Swift’s blockchain-based ledger, describing itself as the first U.S. institution to conduct live native-ledger transactions on the system. The activity included the first transaction in the Middle East region with FAB and the first in Southeast Asia with OCBC. It expands the pilot’s participating banks and geographic reach but does not represent Swift’s first live ledger transaction, which was an earlier tokenized-deposit transfer between HSBC and Standard Chartered. Citi expects similar transactions with DBS and United Overseas Bank later in September, although those remain planned. The controlled proof-of-concept phase runs from July through December 2026, with commercial availability, volume targets and a broader rollout timetable still unresolved. Swift’s shared infrastructure records payment commitments through tokenized deposits (digital bank liabilities) while retaining real-time gross settlement for final settlement. Citi is linking the work to its 24/7 USD Clearing, Citi Token Services and custody infrastructure. The bank says its round-the-clock dollar-clearing service supports more than 300 bank clients and that Citi Token Services processes around $1 billion in transactions, figures that relate to adjacent infrastructure rather than the Swift pilot’s activity. The September transactions demonstrate regulated banks testing bank-issued digital money across additional regions, while broader deployment depends on the remaining pilot work, further bank participation and unpublished details from Citi and Swift.