Multi-bank network friction is becoming the bottleneck of business and corporate treasury.
DBS, OCBC and UOB completed Singapore dollar transactions using tokenised deposits.
Weekend transaction demonstrates how institutions can instantly move money any time, any where.
The initiative is part of Citi’s strategy to advance digital asset capabilities across cash & securities.
Phase 2 explores if a stablecoin & digital pound can settle the same cross-border payment in the same flow.
The licence positions Ripple to expand into broader cryptoasset activities in the EU.
Institutions will connect onchain activity with traditional payment rails.
More firms are seeking direct access to the Fed's payment services as the competitive landscape revolves.
In the near term, participating banks will begin live transactions using tokenised deposits.
