Business2h ago
DBS, Citi bypass traditional banking hours with weekend tokenised deposit payment
AI EXECUTIVE SUMMARY
DBS and Citi have successfully processed cross-border tokenised deposit payments over the weekend, bypassing the operational delays typically caused by standard banking hours and time zone differences. This initiative demonstrates the potential for blockchain-based solutions to facilitate continuous financial transactions outside of conventional business days.
WHY IT MATTERS
This development marks a practical step toward eliminating the multi-day settlement delays that have long characterized traditional cross-border banking operations.
Standard cross-border settlement can take up to 2 business days due to time zones, weekend closures.
This story was originally reported by Straits Times โ Business. As an automated real-time news aggregator, NewsToolBar provides multi-perspective indexing and AI summarization while directing full readership directly to primary publisher sources.
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