Autor Cointelegraph by Zoltan Vardai

Singapore-based financial services group DBS and American financial services giant Citi completed the first weekend tokenized cross-border payment between Singapore and the US on Saturday.The two companies executed the transaction using tokenized deposits via the Swift Digital Ledger to bypass the constraints of traditional banking hours, DBS announced on Monday.The deposit was finalized in minutes, which DBS called a “significant improvement” from the industry norm of as long as two business days for traditional cross-border transfers.The transaction demonstrates how traditional banks are exploring blockchain rails for more efficient cross-border transactions while aiming to keep deposits inside banking channels. Standard Chartered and HSBC were the first to complete a tokenized cross-border transaction on Swift’s blockchain ledger in August.In July, Swift, the world’s largest financial messaging network, said that its blockchain-based ledger was ready for initial use and that it was preparing to pilot tokenized cross-border payments with 17 major banks, including Citi and DBS, as well as HSBC, BNP Paribas, UBS, ANZ and Standard Chartered.Citi is also one of a group of the largest US banks that plan to launch a separate tokenized deposit network in the first half of 2027 operated by The Clearing House, David Watson, CEO of the bank-owned payments operator, told The Wall Street Journal in June.In November 2025, DBS and JPMorgan revealed plans to develop a blockchain-based tokenization framework to enable onchain transfers between their deposit token ecosystems, aiming to set an industry standard for cross-bank payments.Related: VARA, Securitize sign MoU for tokenization innovation in DubaiCointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.

Cointelegraph is committed to providing independent, high-quality journalism across the crypto, blockchain, AI, and fintech industries.All news, reviews, and analyses are produced with full journalistic independence and integrity. For more details on our standards and processes, please read our Editorial Policy.

Cointelegraph is committed to providing independent, high-quality journalism across the crypto, blockchain, AI, and fintech industries.All news, reviews, and analyses are produced with full journalistic independence and integrity. For more details on our standards and processes, please read our Editorial Policy.

The impact of hardware wallet provider Trezor’s data breach was larger than initially estimated, expanding to an additional 67,000 US customers.The breach may endanger more US users who ordered between November 2019 and August 2021, Trezor said in a Friday X post, citing the latest update from its shipping provider, ShipMonk. These customers had their full details exposed, including name, email, number, shipping address and order specifics. Trezor blamed the shipping provider for not deleting the data from these orders, despite saying it had received written assurances from ShipMonk.While Trezor systems were not compromised, the data breach may threaten the digital asset holdings of the 67,000 customers, as attackers may use the information for phishing attacks impersonating Trezor, in a bid to steal users’ seed phrases controlling their wallets.In August, Trezor initially estimated that only 14,000 users had their data exposed through the shipping provider. Trezor reported in January 2024 that about 66,000 users were at risk of phishing attacks if they had contacted the company’s support team since December 2021.  Phishing attacks and social engineering don’t require exploiting code vulnerabilities. Still, these impersonation-based scams drove the majority of the crypto industry’s losses in the first quarter of the year, accounting for $306 million of the total $482 million lost, according to blockchain security company Hacken. In July, a crypto investor lost nearly $1 million after signing a malicious phishing token approval transaction on Ethereum. Related: Thai businessmen sue Tether for freezing $42M in $61M pig butchering caseCointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.

South Korea’s Financial Services Commission (SFC) introduced a three-phase roadmap to develop infrastructure for tokenized securities issuance, for assets including stocks, bonds and funds.Starting Feb. 4, 2027, tokenized securities will be legally recognized as digitized forms of securities after an update to the Act on Electronic Registration of Stocks and Bonds is scheduled to take effect, the FSC revealed in a Friday press release.The first phase will offer tokenized securities legal recognition, including for institutional money market funds, bonds, unlisted stocks and fractional investment securities. Phase two would expand tokenization to all publicly offered securities, while phase three aims for onchain payments linked to stablecoins.The roadmap is part of a planned implementation of the amended Capital Markets Act and Electronic Securities Act, the country’s first tokenized securities framework, scheduled to take full effect on Feb. 4. Next, the FSC plans to propose revisions to relevant subordinate regulations by the end of September and decide the timeline for the second and third phase of the roadmap. Before the roadmap’s initiation, the FSC said it will work with the Korea Securities Depository (KSD) to develop the relevant tokenization infrastructure.South Korean regulators have been moving closer to a regulatory framework for tokenized assets. In May, the FSC said it would release detailed tokenized securities rules to bring them under the country’s capital markets framework in 2027.In April, South Korea’s Ministry of Economy and Finance announced a pilot project that will use tokenized deposits to execute government operational spending, with a full rollout set for the fourth quarter of 2026. Related: South Korea to bring digital assets under new state asset management systemCointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.