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Telecommunications & Media

DBS, Citi cut Singapore-New York transfers from 2 days to minutes

DBS and Citigroup processed their first live weekend transaction sending U.S. dollars from Singapore to New York, using tokenised deposits via the Swift digital ledger, reports said. The banks said the approach reduced cross-border settlement time from up to 2 business days to minutes by avoiding delays from weekends and time zones. No separate cryptocurrency was used. The banks are pitching the capability to corporates including e-commerce and digital services firms.

AI & Enterprise

Opaque recurrence emerges as AI buzzword after OpenAI GPT-6 Astra

Opaque recurrence has emerged as a new talking point in the AI industry following OpenAI's latest model, GPT-6 Astra. The approach, also called recurrent depth, processes prompts by repeatedly passing through internal layers rather than stepping through answers in natural language. It can lift performance with fewer computing resources but may leave fewer human-readable reasoning traces, intensifying safety debates. OpenAI says Astra’s use is limited and monitoring using chain-of-thought is maintained.

Crypto

Fed shifts toward September rate hike; key factor for bitcoin this week

Bitcoin posted its first weekly close above $80,000 since May, but analysts say it is too early to treat the level as firm support. The market is focused on U.S. August CPI and PPI data and the Federal Reserve meeting on Sept. 16, as stronger jobs data has shifted rate expectations more hawkishly. Japan’s yen moves and possible bond sales are also seen as factors. Derivatives-led positioning and thin spot demand may limit gains.