DBS Bank has integrated its Ethereum Virtual Machine (EVM)-compatible permissioned blockchain with its payment engine, enabling 24/7 real-time settlements.
DBS Launches Token Services to Enhance Banking Operations:
On Friday, DBS introduced DBS Token Services, a new solution that incorporates tokenization and smart contract features into its banking services, targeting institutional clients. This initiative aims to enhance operational efficiency and improve banking functions. By integrating its EVM-compatible blockchain with core payment systems, the bank facilitates instant, around-the-clock settlements. The use of smart contracts allows institutions to manage fund usage based on pre-set conditions, boosting security and transparency.
Expanding Digital Solutions with Blockchain: DBS also maintains full control and regulatory compliance by utilizing a permissioned blockchain, addressing issues such as data security that are often challenges when integrating blockchain with traditional banking systems. The new suite of services includes Treasury Tokens, Conditional Payments, and Programmable Rewards, developed through collaboration and digital money innovation, demonstrating how financial institutions can leverage blockchain technology to improve client experiences.
Focus on Institutional Growth and Liquidity Solutions:
The bank is focused on helping companies and public sector entities transition to on-demand digital services by offering tokenization and smart contract solutions. This approach allows clients to optimize liquidity management and streamline operations. In August, DBS partnered with Ant International to launch a blockchain-based treasury and liquidity management platform. The bank also revealed plans to offer over-the-counter (OTC) crypto options trading and structured notes for its institutional clients.
