DBS Bank launches blockchain payment services for institutions

#DBSBank has introduced "DBS Token Services," enabling real-time payment settlements for institutional clients through its permissioned #blockchain . This new offering employs smart contracts to enhance security and transparency in transactions.

The bank's permissioned blockchain allows only pre-approved participants to interact within the network, distinguishing it from fully decentralized systems. Previously, DBS showcased its #Ethereum Virtual Machine (EVM) compatible chain during a treasury tokens pilot in August.