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On September 5th, DBS and Citigroup completed a USD cross-border payment between Singapore and the United States using tokenized deposits through Swift digital ledger. This transaction is executed over the weekend and takes several minutes to achieve real-time settlement 24/7. DBS Group Chief Operating Officer Rachel Chew stated that Swift digital ledger is connecting traditional banking infrastructure with emerging digital networks. Mridula Iyer, Head of Southern Services at Citigroup Asia, stated that real-time transactions over the weekend have proven that 24/7 cross-border payments have become a reality.