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BREAKING: Citi, DBS complete first weekend tokenized cross-border deposit on Swift

For years, moving dollars across borders meant a two-day wait and a hard stop every weekend.

On Saturday, DBS and Citi skipped both.

The two banks settled a cross-border US dollar payment between Singapore and New York over the weekend, using tokenized deposits on Swift’s new blockchain ledger.

It cleared in minutes, against the two business days a normal wire can take.

(A tokenized deposit is just money in a bank account represented as a token on a shared ledger, so it can move on-chain while staying a regulated bank balance.)

Swift is the network banks worldwide already use to move money.

It’s now piloting a ledger that lets those dollars settle around the clock, instead of only during business hours across two time zones.

Standard Chartered and HSBC ran the first live transaction on it back in August.

DBS and Citi just proved it works on a Saturday, when the old system is shut.

Fast, around-the-clock, cross-border dollars is exactly what stablecoins have promised for years, only here it comes from the banks themselves.

The money never leaves the banking system and stays a regulated deposit the whole way, running on rails the entire industry is already plugged into.

A week ago, twenty-one banks announced a shared stablecoin they won’t ship until 2027.

This is the same crowd showing the settlement layer already runs today.

The rails the whole industry runs on can now move dollars on a weekend. 🚀

The next Apple may already exist. Insider sources say Elon has spent two years building a secret device inside Tesla's facilities — one he claims will be "10x bigger than the largest product in history."

There's just one problem: the company is private, and unless you know Elon personally, you can't buy a single share. That was true until Guardian's research team found three public ticker symbols sitting in the launch supply chain.

Click here to see all 3 tickers, free of charge.

You won't hear these names on CNBC — Wall Street hasn't published a word on the connection. But when the launch hits September 21, that quiet ends.

Some are already calling this the biggest opportunity since AI. For anyone who missed Apple before the iPhone, this may be a second look at that kind of setup.

Get the 3 ticker symbols here.

Unlock the free briefing now.

Hunter Horsley thinks the crowd is arguing about the wrong swap.

Horsley is the CEO of Bitwise Asset Management, one of the largest crypto index fund managers.

Here’s what he posted:

The usual story is that Bitcoin slowly drains gold, digital scarcity pulling money out of the metal over the next ten years.

Horsley thinks that misses where the real money sits.

The far bigger pool is the bond market: the trillions parked in US Treasuries, the asset the whole system treats as the safe place to hold cash.

For most of the last century that pile had no real rival as a place to park serious money.

When deficits keep widening and government paper loses ground to inflation, holding it at a real loss stops feeling safe.

Some of that money starts hunting for something harder to debase, and both gold and Bitcoin sit on the receiving end.

A rival to the entire bond market is playing for a far bigger prize than a rival to gold, which is why he reckons Bitcoin’s real market dwarfs the metal’s.

You can see the first trickle in the numbers below: Bitcoin ETFs pulled in nearly $1 billion last week, even as a hawkish Fed kept the price capped.

For us, it widens the lens on where the demand comes from.

The biggest new buyers of hard money this decade may be the people who finally tire of lending to the government at a loss.

The next great bid for Bitcoin may come straight out of the world’s safest asset. 🧲

Back to the ETF flow data, our weekly read on institutional appetite.

Green means money flowing in, red means it’s heading out.

And it stayed green for a third week running.

Bitcoin ETFs pulled in $987 million last week across four green sessions and one red, up from $924 million the week before.

Thursday did the heavy lifting with a $731 million session, the biggest single day of the three-week streak, as IBIT took $454 million and ARK’s fund added $138 million.

IBIT finished the week around $692 million ahead, Fidelity’s fund added $95 million, and Grayscale’s GBTC bled $48 million.

Ethereum cooled right off.

The ether funds drew $215 million across four green sessions and one red, down from $816 million the week before, with BlackRock’s ETHA carrying $136 million of it.

That’s a 74% drop in a week, and it hands Bitcoin 82% of the combined haul after the two ran almost level a week ago.

Combined, the two took in $1.2 billion, down from $1.74 billion, but green on both sides for the third straight week.

Bitcoin’s single best day last week took in more than the ether funds managed all week.

Three green weeks for both, and this one was almost all Bitcoin. 📊

Liquid Network attacker returns 3,400 BTC after bug fix, retains nearly 600 BTC. The self-described white-hat returned 3,400 BTC once Blockstream patched its bridge nodes, keeping about 598.5 BTC of the roughly 4,000 taken.

Zcash hits highest price since 2016 as market cap tops $20B. ZEC has gained 45% over the past week, extending a rally since Grayscale converted its Zcash Trust into an ETF that began trading August 25.

Bitcoin Starts the Week Flat, But Chainlink Is Flying—Here's Why. LINK hit an eight-month high after Bottomline, a top-three Swift services provider moving $16 trillion a year, tapped Chainlink to connect 600-plus banks to blockchain.

Hunter Biden debuts 'LAPTOP' memecoin targeting TRUMP holders. The token launches Wednesday on Base and airdrops to traders who lost money on the TRUMP coin, with nearly a third of supply set to be burned on certain outcomes.

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Trivia Answer: A satoshi 🥳

One satoshi is a hundred-millionth of a Bitcoin (0.00000001 BTC), named after the pseudonymous creator of the network.

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