The transaction is the second confirmed live use of Swift's blockchain ledger, coming as the network races to prove it can compete with digital payment rails that never close.
- DBS and Citi completed their first cross-border dollar payment using tokenized deposits on Swift’s Digital Ledger, settling the weekend transaction in minutes instead of up to two business days.
- The payment was the second confirmed live transaction on Swift’s blockchain ledger, which launched in July with 17 banks as the network faces competition from stablecoins and other round-the-clock payment systems.
- The test could help address costly weekend delays as Asia’s outbound cross-border payments are projected to reach $24 trillion by 2033, up from $13.5 trillion in 2025.
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The Definitive Stablecoin Landscape Series: Asia Pacific
As stablecoins move into regulated finance, APAC is becoming a key proving ground. This report maps the region’s rules, use cases, and RLUSD’s role.
Why it matters :
As stablecoins move into regulated finance, APAC is becoming a key proving ground. This report maps the region’s rules, use cases, and RLUSD’s role.
Payments firm OpenPayd targets year-end Nasdaq listing to fund U.S. expansion and acquisitions
Crypto job postings triple to over 1,200 in September, but applications fall
BlackRock offers a glimpse of how tokenization may change your investment portfolio
Original sourceCoinDesk
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