Which UK banks completed the first live tokenised deposit transactions on Quant's GBTD platform?

The full answer

Which banks completed the first live GBTD transactions?

Swift’s blockchain-based ledger launched in July with 17 banks, and CoinDesk reported on September 7, 2026 that the DBS and Citi payment was only its second confirmed live transaction. CoinDesk reported on September 7, 2026 that DBS and Citi, which announced the payment that Monday, had made the second confirmed live transaction on Swift’s blockchain ledger, a cross-border US dollar payment between DBS in Singapore and Citi’s New York office executed on September 5 using tokenized deposits. CoinDesk said it followed the HSBC and Standard Chartered transfer in August. As of October 5, 2026, no full list of participating banks or transaction counts is confirmed.

The only bank-reported live tokenised deposit transactions confirmed below ran on Swift’s ledger, a separate system.

What live tokenised deposit transactions are confirmed elsewhere?

Swift’s blockchain-based ledger is a separate project, and it has produced several bank-reported live transactions. Standard Chartered and HSBC said on August 19, 2026 that they completed the first live cross-border transaction on it [1]. CoinDesk reported on September 7, 2026 that the DBS and Citi payment was the second confirmed live transaction on that ledger [2]. DBS, OCBC and UOB then said, in a release dated September 10, 2026, that they completed live domestic Singapore dollar transactions using tokenised deposits on Swift’s ledger [3].

Swift’s ledger has its own page: What is Swift’s blockchain ledger, and is it live?. The wider concept is explained in What are tokenized bank deposits, and how do they differ from stablecoins and XRP?.

Does any of this involve XRP?

CaptainAltcoin reported on September 10, 2026 that the DBS and Citi transaction did not use XRP, did not settle on the XRP Ledger and was not evidence that Swift had selected XRP [4]. As of October 5, 2026, no cited source says the GBTD platform uses XRP either. For the wider picture of bank use, see Do banks actually use XRP?.

What is the strongest caution about reading these announcements?

Pilot announcements describe completed test transactions, and they do not describe volumes or customer adoption. The sources above report that transactions happened. None of them gives transaction counts or values for the Swift ledger pilots.