DBS, Citi Complete First Weekend Singapore-US Dollar Payment
Tokenized deposits represent commercial-bank money on a shared digital ledger, allowing banks to coordinate payments while keeping funds within the regulated banking system. The technology is emerging as banks’ answer to demand for always-on settlement, particularly for cross-border dollar transfers that can be delayed by time zones, weekend closures and operating cutoffs. The DBS-Citi transaction matters because it demonstrates the model in a live Singapore-US payment corridor.
DBS and Citi’s New York office completed the first weekend US dollar payment between Singapore and the United States on Sept. 5, 2026, the banks said on Sept. 7. The transaction used tokenized deposits through the Swift Digital Ledger and was completed within minutes, compared with an industry norm of as long as two business days for conventional cross-border payments. DBS and Citi did not disclose the transaction amount or identify the clients involved.
All Coverage
3 original reportsThe Backstory
The history behind this eventDBS, Stripe Partner to Expand Agentic Commerce in Asia
Artificial-intelligence agents are increasingly moving beyond product discovery toward completing transactions, raising demand for infrastructure that can authenticate payments, move money and manage liquidity securely. AI agents could orchestrate as much as $5 trillion in global consumer commerce by 2030. Asia’s outbound cross-border payments are projected to reach $24 trillion by 2033, or 36% of global flows, nearly double the $13.5 trillion recorded in 2025.
DBS and Stripe signed a memorandum of understanding in Singapore on Aug. 27, 2026, without disclosing a deal value or implementation timetable. Stripe will use DBS’s money-movement and cash-management services to improve cross-border collections and liquidity management for merchants and its corporate entities. DBS will explore Stripe’s global platform and embedded-finance tools to extend its cross-border network, while the companies will also examine agentic AI capabilities designed to help DBS customers transact more efficiently and securely.
Subscribe to Mark Radar Weekly
Every Friday, the week's strongest signals in your inbox. Unsubscribe anytime.
If you search news on Google, you can set Mark Radar as a preferred source—our coverage will show up more often in your results. Set as preferred source on Google →