DBS Bank and Citibank have entered into a partnership aimed at enabling instant, 24/7 cross-border U.S. dollar payments, according to a Cointelegraph report cited by ChainCatcher. The arrangement uses Swift’s blockchain-based ledger and relies on tokenized deposits to carry out the transfers. The update appeared in ChainCatcher’s 7x24 news feed and did not include additional operational details beyond the core structure of the collaboration. The reported setup centers on using tokenized bank deposits rather than a separate public crypto asset, with the stated goal of making cross-border dollar settlement available on a real-time, around-the-clock basis.
DBS Bank and Citibank have reached a partnership to enable instant, 24/7 cross-border U.S. dollar payments, according to a Cointelegraph report cited by ChainCatcher.
The two banks will use Swift’s blockchain-based ledger and tokenized deposits for the payment flow.
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