Citi processes live transactions on Swift’s blockchain ledger

Citi has successfully processed live transactions on Swift’s blockchain-based ledger, becoming the first U.S. bank to conduct live native ledger transactions. The initiative aims to provide always-on, cross-currency, and interoperable payment solutions for institutional clients.

In collaboration with First Abu Dhabi Bank (FAB) in the Middle East and Oversea-Chinese Banking Corporation (OCBC) in Southeast Asia, Citi demonstrated the ability to use distributed ledger technology for uninterrupted, 24/7 payments and settlements. This bypasses traditional banking constraints such as weekend closures and standard cut-off times.

The project is part of Citi’s strategy to advance digital asset capabilities across cash and securities, building upon existing services like Citi Token Services and 24/7 USD Clearing. A controlled proof-of-concept phase is scheduled to run through December 2026. Citi expects to expand these transactions to other collaborators, including DBS and United Overseas Bank (UOB), later in September 2026.