DBS Bank Floats Token Services For Corporate Clients

DBS Bank has launched a service that will help its corporate firms and institutions adopt blockchain technology with ease

DBS Bank, Singapore’s financial powerhouse, has just launched DBS Token Services, a suite of blockchain-based solutions for institutional clients. This bold step combines traditional banking with blockchain, showing DBS’s dedication to digital transformation. 

DBS Bank Tokenization Meets Smart Contracts

DBS is blending tradition with innovation through its newly launched Token Services. By adding tokenization and smart contracts to its banking system, DBS is poised to offer institutional clients a secure, programmable environment. 

Central to this innovation is a permissioned blockchain that works with the Ethereum Virtual Machine (EVM). This connects to DBS’s payment system and industry networks. Smart contracts allow companies to set rules for fund management, turning routine financial tasks into automated transactions.

DBS Token Services continues beyond just tokenization. The platform includes specialized products, such as Treasury Tokens, which were launched in partnership with Ant International. These tokens allow businesses to settle multi-currency transactions 24/7, erasing time-zone boundaries. 

Conditional Payments is another key feature. It aims to modernize payment workflows by automating the conditions for fund release. Meanwhile, Programmable Rewards empowers businesses to create customized digital voucher programs, allowing for more personalized customer engagement and loyalty strategies.

Strengthening Businesses with Blockchain

Lim Soon Chong, Group Head of Global Transaction Services at DBS Bank, emphasizes how these new services bring value to enterprises. With DBS Token Services, businesses can unlock liquidity efficiencies, streamline operations, and build resilience, he said. 

The goal is to help companies manage their cash flow and find new ways to interact with their customers. DBS took a calculated approach by building this service on a permissioned blockchain, giving it full control over the system. This allows the bank to harness the full potential of blockchain technology while adhering to strict compliance and regulatory standards. 

This ensures trust for its institutional clients. With the launch of DBS Token Services, the bank is not just adopting blockchain, it is redefining how institutions can use it to stay ahead in the evolving financial landscape.

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