The September 5 transaction between Singapore and the U.S. processed in minutes using tokenized deposits, replacing a process that typically requires up to 2 business days. DBS and Citi executed the transfer through Swift's Digital Ledger, marking the first time a USD cross-border payment was completed over a weekend using this blockchain-based system.

The system uses Swift's Digital Ledger to synchronize interbank payment commitments, though settlement remains off-ledger through existing banking infrastructure. The collaboration enables 24/7 cross-border payment capabilities, removing the requirement for banks to operate within traditional business hours to move USD between jurisdictions.