DBS Bank Launches Innovative Token Services for Institutions
DBS Bank introduces Token Services, enabling 24/7 real-time payments for institutional clients while ensuring compliance with banking regulations through blockchain.
Highlights:
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Real-time settlements using blockchain technology.
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Compatible with Ethereum's EVM for enhanced efficiency.

DBS Bank, Singapore's largest financial institution, has launched DBS Token Services, a groundbreaking suite of blockchain-based banking solutions tailored for institutional clients. Announced on October 18, 2024, this service integrates the bank's core payment systems with a permissioned blockchain that is compatible with Ethereum's Virtual Machine (EVM), enabling real-time, 24/7 payment settlements.

The new service encompasses three key functionalities: Treasury Tokens, Conditional Payments, and Programmable Rewards. Treasury Tokens facilitate instant multi-currency transactions between DBS branches, enhancing liquidity management for corporations. Conditional Payments utilize smart contracts to automate fund disbursements based on predefined criteria, streamlining operational workflows. Meanwhile, Programmable Rewards allow institutions to create digital vouchers tied to specific conditions, promoting customer engagement.

Lim Soon Chong, Group Head of Global Transaction Services at DBS, emphasized that these innovations reflect a significant advancement in transaction banking. By leveraging blockchain technology, DBS aims to optimize liquidity management and improve operational efficiency while ensuring compliance with regulatory standards. This launch marks a pivotal step in the financial sector's ongoing digital transformation.
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