SEA Deal Ticker
Swift built its own ledger, and OCBC just cleared the first Southeast Asian dollar on it
Citi settled live US dollar transactions with OCBC over Swift's shared ledger using tokenised bank deposits. DBS and UOB join later this month; the controlled trial runs July through December.
Positive-sum angle: Tokenised deposits moving between named banks is a different animal from a stablecoin — anyone building treasury tooling for SEA exporters should watch which rail their customers' banks settle on.