| Mobile Web

Search results for Citi

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.

Crypto

Stablecoin growth bottleneck is banks, not blockchain

Stablecoin payments are expanding quickly in corporate transactions, but their main constraint is bank infrastructure rather than blockchain technology, the article said. Annualised stablecoin payments were about $390 billion at end-2025, or about 0.02 percent of the $208 trillion cross-border payments market. Banks still handle on- and off-ramps, compliance and local payment-network access, and reliance on a single bank is seen as a key operational risk.

Crypto

Crypto liquidations surge as oil, yields jump; XRP, Ethereum, Solana stumble

The cryptocurrency market logged large-scale liquidations as macroeconomic jitters and risk-off sentiment weighed on prices. About $369.67 million in derivatives positions were forcibly liquidated in a day, pushing bitcoin and major altcoins lower. The slide centred on XRP, Ethereum and Solana as total market value fell to around $2.59 trillion to $2.70 trillion. Long positions accounted for most liquidations, while spot ETF flows showed net outflows for bitcoin and inflows for some other tokens.