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DBS and Citi Complete Cross-Border US Dollar Payment Using Tokenized Deposits

Citigroup logoCitigroup
Sig2.19Sen+2.33Env+0.07Soc+0.09Gov+0.56

DBS and Citigroup completed a cross-border US dollar payment between Singapore and the United States on Saturday, September 5, using tokenized deposits on Swift’s Digital Ledger between DBS in Singapore and Citi’s New York office. It was the second confirmed live payment on the ledger, aimed at moving value around the clock outside traditional banking hours.

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