According to CoinMeta, DBS and Citibank completed the first tokenized cross-border deposit over the weekend, utilizing the blockchain ledger of SWIFT to bypass the limitations of traditional bank business hours. The Singapore financial services group DBS and Citibank of the United States completed a tokenized cross-border payment between Singapore and the US on Saturday. This transaction made use of the tokenized deposits from the SWIFT digital ledger, and DBS stated that this process was completed within minutes, significantly improving the industry standard of typically two days required for traditional cross-border transfers. This transaction demonstrates how traditional banks are exploring blockchain technology to enhance the efficiency of cross-border transactions while keeping deposits within the banking channels.