DBS, OCBC and UOB completed Singapore’s first live SGD interbank transactions enabled by bank-issued tokenised deposits on Swift’s blockchain-based ledger, September 10, 2026.
Rachel Chew, DBS Group COO and Co-Head of Digital Assets, said pilots prove clients can transact USD and SGD payments any time including weekends. DBS has built its digital asset ecosystem since 2021.
Swift’s ledger exchanges payment messages, records tokenised deposit obligations on each bank’s infrastructure, matches and nets obligations, then settles through existing systems — orchestration rather than independent on-chain settlement.
Follows Swift’s July 2026 readiness announcement with 17 banks across six continents.