DBS and Citi completed the first weekend cross-border U.S. dollar payment between Singapore and the United States using tokenized deposits on Swift's Digital Ledger. The Sept. 5 transfer between DBS' Singapore operations and Citi's New York office settled within minutes, compared with the one to two business days such payments can take outside normal banking hours. Neither bank disclosed the payment size. The blockchain-based Digital Ledger is being piloted by Swift and a group of banks to support round-the-clock settlement. Tokenized deposits represent bank money as digital tokens on a shared ledger, allowing banks to transfer value directly without relying on correspondent-banking and clearing systems that operate on limited schedules. DBS is the only Asia-headquartered bank in Swift's 12-member core design group, while Citi joined Swift's 24/7 cross-border payments pilot in July 2026. Citi is also participating in a Clearing House-led U.S. bank consortium developing a tokenized-deposit network targeted for a first-half 2027 launch. The Swift pilot is expected to continue through year-end before participating banks decide on wider adoption.