Singapore, 10 September 2026 — DBS, OCBC and UOB completed live domestic Singapore dollar transactions using tokenised deposits on Swift’s blockchain-based ledger. First time the three Singapore banks executed live interbank transactions using tokenised deposits.
Transactions follow Swift’s July 2026 announcement that its blockchain ledger was ready for initial use, with 17 banks across six continents preparing live tokenised-deposit transactions.
Payment messages were exchanged between banks using Swift’s ledger. Resulting obligations were recorded as tokenised deposit obligations on each bank’s tokenised-deposit infrastructure. Swift’s ledger acted as secure orchestration layer, enabling obligations to be matched and netted prior to final settlement through existing systems.
Pilots demonstrate clients can transact USD and SGD payments any time including weekends.