Mashreq

Mashreq completes live tokenised deposit transaction with Citi on Swift's blockchain ledger

Mashreq said on 5 October 2026 that it has completed a live transaction with Citi using Swift's blockchain ledger infrastructure, an initiative that uses bank-issued tokenized deposits to explore faster cross-border payment capabilities. The release says the ledger was designed by more than 40 financial institutions, with 17 banks piloting it for tokenised deposit transactions since Swift announced it was ready for use in July 2026, and that its Minimum Viable Product (MVP) phase is focused on demonstrating 24/7 real-time cross-border payments.

Mashreq