SINGAPORE DBS BANK REDEFINES CORPORATE BANKING WITH BLOCKCHAIN‼️
DBS, Singapore’s largest bank, has launched “DBS Token Services”, a new blockchain-based banking platform for corporate clients. The platform aims to improve banking processes with services such as Treasury Tokens, Conditional Payments and Programmable Rewards. Using blockchain and smart contracts, the platform makes transactions more efficient and transparent, allowing large institutions to optimize their liquidity management.
Multi-currency transactions can be carried out 24/7 with Treasury Tokens. Conditional Payments facilitate payment processes that are automatically triggered based on set conditions. With Programmable Rewards, companies can create digital reward programs that increase sustainability and customer satisfaction.
DBS’s Ethereum-compatible private blockchain infrastructure ensures that these transactions are carried out securely and in compliance with regulations. With this step, DBS aims to meet the needs of digital banking and implement blockchain technology on a larger scale in institutional banking.
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REFERENCES
• Coinspeaker, “Singapore Financial Institution DBS Bank Floats Token Service.” Oct 18, 2024.
• Crypto2Community, “DBS Bank Launches DBS Token Services to Transform Institutional Blockchain Banking.” Oct 18, 2024. • CoinJournal, “DBS Bank rolls out ‘Token Services’ for blockchain-based banking.” Oct 18, 2024.
