DBS, OCBC and UOB conduct first interbank settlements with tokenized deposits on SWIFT blockchain ledger

• —DBS, OCBC and UOB jointly used the SWIFT blockchain ledger for settlements for the first time
• —SGD payments were made through the banks' tokenized deposits
• —Final settlement went through existing banking infrastructure
• —In July, SWIFT reported the ledger was ready; 17 banks are participating in the pilot