JPMorgan, DBS Bank, and SBI have completed their first live trades on a public blockchain using decentralized finance (defi) under the supervision of Singapore's central bank.
JPMorgan, DBS Bank, and SBI Digital Asset Holdings have completed their first lives trades on a public blockchain using decentralized finance , tokenized deposits, and verifiable credentials under the supervision of the Monetary Authority of Singapore . Singapore’s central bank is planning two more pilots that involve Standard Chartered Bank, HSBC, and UOB.
The second pilot focuses on wealth management. “HSBC and UOB are working with Marketnode to enable native digital issuance of wealth management products, enhancing issuance efficiency and accessibility for investors,” the central bank described. Project Guardian has deepened MAS’ understanding of the digital asset ecosystem and has contributed to the development of Singapore’s digital asset strategy.
He described: “This is a massive step forward towards a future where finance can take place in a compliant manner on public blockchain using public defi protocols. The beginnings of Institutional defi are here.” Lobban added:
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Singapore bank DBS uses DeFi to trade FX and state securitiesFX and government securities' trading can benefit from DeFi, DBS Bank found within a study backed by the Monetary Authority of Singapore.
Read more »
EverBank Field to TIAA Bank Field to ???: TIAA Bank to be renamed after saleICYMI: The bank will remain in Jacksonville but will get a new name that will be announced when the deal is done, the company said. That means the TIAA Bank Field name will have to change again when the bank’s new name is revealed.
Read more »
JPMorgan executes first DeFi trade on a public blockchain: Finance RedefinedTop 100 DeFi tokens had a bullish first week with majority of the tokens trading in green and the total value locked in DeFi protocols surged above $52 billion,
Read more »
Standard Chartered Invests in JPM and DBS-Backed Blockchain Payment Network Partior.StanChart has invested in PartiorOfficial, the blockchain-based payment network founded by jpmorgan, dbsbank and Temasek. By JamieCrawleyCD
Read more »
Breakingviews - Wealth darling DBS channels Singapore’s successSingapore’s status as a financial centre is thriving, and DBS Group, the city-state’s $63 billion wealth darling led by Piyush Gupta, is reaping the benefits of its home market’s success. More growth is yet to come, says ugalani
Read more »