Citi partners with FAB, OCBC for live payments pilot on Swift blockchain ledger
C•Swift blockchain ledger pilot
- Citigroup teamed with Swift, First Abu Dhabi Bank, and OCBC to run live USD transactions on Swift’s blockchain-based ledger.
- The move targets always-on, cross-border payments using tokenized deposits, aiming to cut cut-off constraints, speed beneficiary credit, and improve liquidity efficiency.
- The pilot phase runs from July to December 2026; similar transactions are planned later this month with DBS and UOB.
- The effort aligns with Citi Services’ digital-asset push across payments, securities, and collateral; Citi Token Services processes about USD 1 billion in transactions.
