DBS Bank has introduced a new suite of blockchain-enabled services for its corporate clients. Called “DBS Token Services,” these services facilitate real-time payment transactions using the bank’s permissioned blockchain. Permissioned blockchains allow participants to interact only at pre-approved authorization levels and are not fully decentralized.

DBS said it will increase security and transparency by enabling smart contracts to manage funds with pre-defined conditions. This move is seen as a significant development to support the shift in demand for digital services.

What do you think of these new services from DBS? Share your comments.