Bank & market adoption
DBS, OCBC and UOB settle live SGD tokenised deposits on Swift's ledger
APACSource: OCBC
- OCBC said on 10 September 2026 that DBS, OCBC and UOB have completed live domestic Singapore dollar transactions using tokenised deposits on Swift's blockchain-based ledger, the first time the three Singapore banks have executed live interbank transactions using tokenised deposits.
- The release says the transactions follow Swift's July 2026 announcement that its ledger was ready for initial use, with 17 banks across six continents preparing live tokenised-deposit transactions.
- OCBC also referred to its own live USD cross-border transaction on the ledger, and UOB said it had expanded from Hong Kong dollar to Singapore dollar and US dollar transactions beyond traditional banking hours.
Why it matters
Singapore's three local banks moving bank-issued tokenised deposits between each other on a shared Swift ledger is an interbank, multi-issuer use rather than a single bank's closed network, the interoperability question most tokenised-deposit programmes still face.
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More detail
Who is affected
DBS, OCBC, UOB and Swift; the release says the technology could in future open up new services within corporate treasury, trade and digital commerce.
Key dates
- Live SGD tokenised deposit transactions on Swift ledger announced
What remains uncertain
- The release does not state the number or value of the transactions, and describes future corporate treasury, trade and digital commerce services only as possibilities.
Adoption status
- LiveDBSLive domestic SGD interbank tokenised deposit transactions on Swift's ledger (with OCBC and UOB)
- LiveOCBCLive domestic SGD interbank tokenised deposit transactions on Swift's ledger (with DBS and UOB)
- LiveUOBLive domestic SGD interbank tokenised deposit transactions on Swift's ledger (with DBS and OCBC)
Key facts
- Event
- Live transaction
- Jurisdiction
- APAC
- Source
- OCBC
- Source tier
- Tier 2 · Bank / FMI
- Product
- Tokenized deposits
In the database
How we verified this
The source says
“This marks a significant milestone for Singapore’s banking industry and the first time the three Singapore banks have executed live interbank transactions using tokenised deposits.”
“The transactions follow Swift’s July 2026 announcement that its blockchain-based ledger was ready for initial use, with 17 banks across six continents preparing to conduct live transactions using tokenised deposits.”
“Our pilots prove that with tokenised deposits, clients can transact USD and SGD payments any time, any day, including over a weekend.”
“By connecting tokenised deposit ecosystems across banks, Swift’s ledger addresses a critical barrier to the adoption of digital money, laying the foundation for more efficient, interoperable payment networks.”
Verbatim from OCBC, matched word for word against the live page on 31 October 2026.
Sources
- Official institutionalOCBC ↗2026-09-10T2Bank / FMI
Evidence
- Confidence
- Medium The institution’s own statement; quote string-matched. Proves what the institution says, not independent confirmation.
- Quote verified
- 2026-10-31 20:01 UTC
- Archived snapshot
- SHA-256
eb849c864aca90e2…· fetched 2026-10-30 · Wayback Machine copy ↗ - Source type
- Official institutional OCBC ↗
Change log (1)
- 2026-10-30 Published
AI-assisted: the summary and analysis were drafted with AI from the primary source and checked by the editors. AI-drafted from the primary source; quote string-matched against the live source page.
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