DBS, OCBC and UOB conducted live Singapore-dollar interbank transactions using tokenized deposits on a blockchain-based ledger built by SWIFT, the global bank messaging network. Announced on the 10th, the deal marked the first joint use of the system by the three banks. SWIFT’s ledger serves as a coordination layer linking each bank’s proprietary infrastructure, while final settlement is processed through existing systems. HSBC, Citi and Standard Chartered are also advancing demonstrations, as banks explore the ledger as infrastructure for faster international payments operating around the clock, including weekends.